New Mexico Corporation Bylaws Without A License
Description
How to fill out New Mexico Bylaws For Corporation?
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FAQ
NM Stat § 53-8-12 states that ?the initial bylaws of a corporation shall be adopted by its board of directors.? In legal terms, the word ?shall? means ?must,? so adopting bylaws is legally required in New Mexico.
For example, if your corporation is audited, the IRS will ask to review your bylaws to determine the shares of stock each shareholder owns and their percentage of profits and losses. Without your bylaws, the IRS will determine on their own who owns what and how much tax is owed.
Do bylaws need to be signed? No, but signing them is a smart idea. We recommend having your officers and directors sign your bylaws to affirm that they sign on to your policies.
Corporate bylaws are legally required in Florida. Florida law requires corporations to adopt bylaws. ing to FL Stat § 607.0206, incorporators, directors or shareholders shall adopt initial bylaws for their corporation.
There is a minimum filing fee of $200 and a maximum of $1000. The state may have additional registration requirements, so contact the New Mexico Secretary of State directly for more information and to ensure you're in compliance with NM corporation law.