Dissolving Your Company in New Mexico
Company Dissolution in New Mexico
To dissolve a company in New Mexico first step is to have a meeting of its members (for LLC) or directors/shareholders (for corporation) and have a resolution drafted authorizing dissolution. Once such resolution was ratified, the process of dissolution involves the following steps:
1. Obaining Clearances & Consents
Clearance from the Taxation and Revenue Department, the Department of Workforce Solutions, and the Public Regulation Commission is required.
2. Filing Articles of Dissolution
Articles of Dissolution are filed with New Mexico Public Regulation Commission. The processing of dissolution at the New Mexico Public Regulation Commission level takes about 15 business days.
3. Newspaper Publication
There are no newspaper publication requirements to dissolve a company in New Mexico.
4. Updating Other Agencies & Company Documents
Don’t forget to notify the IRS and other state agencies regaring the dissolution. Also, make sure you file a “final” tax return for the company.
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