These ownership arrangements can be useful in structuring estates, securing debts, and, most commonly, for charting business revenue flow and governance structures. A New Mexico LLC provides for a great variety of applications by the use of customized operating agreements.
Family businesses, closely held
companies, and start-up entities are all taking advantage of the low
maintenance costs and privacy of the New Mexico Limited Liability
Company Act. This updated law allows flexibility in management, no
annual fees, and privacy of ownership.
A New Mexico LLC can either be member-managed or manager-managed and it can elect to be taxed as a proprietorship, partnership, S-corporation or C-corporation. A New Mexico LLC can own assets in any other state and become qualified to do business almost anywhere.
Existing companies, both from New Mexico and other states, can convert to operating as a New Mexico limited company. Our law firm will draft Articles of Organization, Articles of Conversion, Articles of Merger and Articles of Dissolution. For out-of-state companies coming into the jurisdiction of New Mexico.
An Operating Agreement should be custom written to set out the purpose, anticipated duration, anticipated number of owners and manner of making management decisions. Attorney Lynn McKeever has drafted numerous operating agreements. Some are contracts between and among multiple owners and others a declarations by a single founder or owner that set out the anticipated growth and change of the company.