In this article, we will be describing step by step instructions involved to file for business name reservation in New Mexico. Typically name reservation is done to protect the business name from being registered by someone else, till the time business is officially formed. The business name can be reserved for the period of 120 days and transferableble.
To file for business name reservation the first step is to determine whether the business name chosen is unique or not. Also, there are certain naming requirements that must be kept in mind while choosing the name.
New Mexico Business Name Requirement
New Mexico Secretary of State has mandated certain requirements which you must keep in mind while selecting a business name.
The business name must be unique and distinguishable from any existing business entity name registered with Secretary of State. Also any difference in grammar, similarly sounding business name, or using stop words does not make the business name unique and it will lead to the name being rejected.
For example following names are not distinguishable:
- Justin Plumber LLC vs The Justin Plumber LLC
- Mango Farm LLC vs Mango Farms LLC
- Jake & Mary Corporation vs Jake and Mary Corporation
Required suffix in the business name:
- For Corporations:
Must contain either “Corporation”, “Incorporated”, “Company” or “Limited” or an abbreviation of one of such words. - For LLC
Must contain either “Limited Liability Company”, “Limited Company”, “L.L.C.”, “LLC”, “L.C.”, “LC”, “Limited”, “Ltd.”, “Company” or “Co.”
Prohibited words:
Name containing “bank,” “banking,” “banker,” “trust,” “insurance,” “insurer,” “engineer,” “architect” or any abbreviation of such words cannot be used. Prior approval needs to be taken to use these words in the business name (Link).
Checking the Availability of a Business Name
New Mexico Secretary of State provides an online tool to check the availability of any business name. You can use this tool to find and research name for your business. We have written an in-depth tutorial on how to search for a business name in New Mexico.
How to Reserve Business Name
Business name reservation can be done by Mail only.
By Mail
| Download Form | LLC: Link For-Profit Corporation: Link Non-Profit Corporation: Link |
| Fees | LLC: $20 For-profit Corporation: $25 Non-Profit Corporation: $10 |
| Address | SECRETARY OF STATE CORPORATION DEPARTMENT 325 DON GASPAR, SUITE 300 SANTA FE, NEW MEXICO 87501 |
| Processing Time | Around 1 week after the receipt |
- Download the name reservation form (Link above).
- Fill the form with the requested details.
- Include the money order or check of the required amount. Check/money order must be drawn in name of “Secretary of State“.
- Send the filled form to
SECRETARY OF STATE CORPORATION DEPARTMENT
325 DON GASPAR, SUITE 300
SANTA FE, NEW MEXICO 87501
New Mexico Secretary of State Contact
For any queries, you can contact the SOS at 505-827-4508 during business hours.
Reference:
Last Updated: 07/08/2018
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source https://businessentity.org/nm/new-mexico-business-name-reservation/
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