Monday, July 6, 2009
A New Mexico LLC — why so special for privacy?
To form a New Mexico LLC, the only information required for the Articles of Organization is:
(1) the name of the company and the address of the principal office.
(2) the name and address of the resident agent (which must be a street address in New Mexico), and
(3) the duration of the LLC (often December 31, 2099)
A New Mexico LLC need not include the names of members. The mailing address of the principal office can be anywhere in the world. And unlike all other states, a New Mexico LLC does not require an annual report. Thus, changes in membership take place in total darkness.
How do you use a New Mexico LLC? You title your car, boat, plane, mobile home, travel trailer, motorcycle or real estate in the name of the New Mexico LLC instead of your own name. And what does the NM LLC cost?
At low as $325 at this site, which includes not only the charter and the Articles of Organization, but three years paid ahead for the New Mexico LLC’s resident agent, as well as a foreign address for your "principal place of business." (Records, therefore, cannot be subpoened!)
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JJ,
ReplyDeleteI like the idea of the NM LLC, but what about an Indiana LLC? I see two differences between them.
1. The Indiana LLC does not require the address of the principal office.
2. The Indiana LLC has to be renewed every two years, but the same info as was required the first time is required to renew (i.e., no principal residence).
Otherwise, the Indiana LLC only requires
1. The name of the company
2. The name and address of the resident agent
3. The duration of the LLC (either perpetuity or a set date)
Is the drawback of the reporting enough to offset the lack of requirement of a principal place of business?
Thank you,
-Nick
Nick,
ReplyDeleteTo keep the entry short, I eliminated a lot of details as to why I recommend New Mexico LLCs when it comes to privacy.
Actually, New Mexico does not require a principal place of business. HOWEVER, if you do not list an out-of-state address, the state of New Mexico assumes you are doing business there and starts sending you all sorts of forms--and they demand you fill them out!
As of July 1, the price of forming a NM LLC has dropped to an all-time low. It INCLUDES an overseas address. If you don't think THAT is important, contact me at JJL (at) canaryislandspress (dot) com and I will explain it!
Great article and disucssion!
ReplyDeleteI’ve been doing some serious research about the positioning of buttons in forms in general. And what I’ve come up with is to put the “Primary Action”-button left-aligned with the form. One of the reasons for doing this is that the eye automatically searches for a new form element to the left just under the previous element.
online job
When you are stopped by police for a traffic ticket and they ask you your relation with the NM LLC, how to you answer. For example, do you say I am an employee or the owner etc.?
ReplyDeleteThank you!