# Registering an LLC in New Mexico and Delaware

#### New Mexico 🏜️

1. **Choose a Name for Your LLC**
   * Make sure your desired LLC name is unique and not already in use. You can search for your desired LLC name on the [New Mexico SOS business name database](https://portal.sos.state.nm.us/BFS/online/CorporationBusinessSearch).
2. **File Articles of Organization**
   * File the Articles of Organization with the New Mexico Secretary of State. This can be done [online](https://portal.sos.state.nm.us/BFS/online/Login).
   * The filing fee for the Articles of Organization is $50.
3. **Create an Operating Agreement**
   * While not required in New Mexico, it's recommended to have an Operating Agreement. It outlines the ownership and operating procedures of the LLC.
4. **Obtain an EIN**
   * Apply for an Employer Identification Number (EIN) from the IRS. This can be done [online](https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online) for free.

#### Delaware 💼

1. **Choose a Name for Your LLC**
   * Make sure your desired LLC name is unique and not already in use. You can search for your desired LLC name on the [Delaware business name database](https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch.aspx).
2. **File Certificate of Formation**
   * File the Certificate of Formation with the Delaware Secretary of State. This can be done [online](https://corp.delaware.gov/).
   * The filing fee for the Certificate of Formation is $90.
3. **Create an Operating Agreement**
   * Although not required in Delaware, it's recommended to have an Operating Agreement. It outlines the ownership and operating procedures of the LLC.
4. **Obtain an EIN**
   * Apply for an Employer Identification Number (EIN) from the IRS. This can be done [online](https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online) for free.

Remember, these steps do not include any additional costs like registered agent fees or other potential maintenance fees. Also, consult with a legal professional to ensure you've covered all necessary requirements and to understand all the implications of forming an LLC.

| Expense Type                                                     | New Mexico Cost                          | Delaware Cost                              |
| ---------------------------------------------------------------- | ---------------------------------------- | ------------------------------------------ |
| LLC Name Reservation                                             | Free\*                                   | $75 (Optional)                             |
| Filing Fee for Articles of Organization/Certificate of Formation | $50                                      | $90                                        |
| Operating Agreement                                              | Variable (could be free if self-drafted) | Variable (could be free if self-drafted)   |
| EIN                                                              | Free                                     | Free                                       |
| **Total**                                                        | **$50**                                  | **$165 (or $90 without name reservation)** |

\* New Mexico does not charge for name reservations, whereas Delaware charges a $75 fee if you wish to reserve a name.

Please note that these costs are as of September 2021, and they are subject to change. Additionally, these costs do not take into account other possible expenses, such as hiring a registered agent, annual report fees, franchise taxes, or legal consultation fees. Always refer to the respective state websites for the most accurate and up-to-date information.


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