New Mexico Initial Resolution Directors
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FAQ
New Mexico Biennial Report FAQ The filing fee is $25 (corporations) OR $10 (nonprofits). Both reports must be submitted online.
Put simply, the initial resolution shows how the corporation acts in between its formation and the adoption of its internal governing documents (your bylaws).
You will need to complete your state's form and submit it, along with any filing fees that apply. Depending on the state in which you have registered your business, you might also have to pay other business taxes when filing your annual report.
When the directors are not listed in the Articles of Incorporation, the initial resolutions are used to show which living human or humans can direct the actions of the corporation. Making initial resolution for directors is an important step of starting a business because corporations are unable to act by themselves.
The cost of filing an annual or biennial report with the New Mexico Secretary of State's office depends on the type of corporation that is filing. For-profit corporations must pay $25 to file their report, while non-profit corporations must pay $10 to file their annual business report.
In New Mexico, there is no annual fee. Another cost that goes along with the formation of an LLC is the registered agent. You can choose a member of the LLC or a manager as the registered agent, but you can also choose to hire a third party.
The Annual Report module is used to report even numbered calendar year activity. The Biennial Report module is used to report odd numbered calendar year activity.
The resolution is a document recording the decisions made by the board members regarding decisions and actions a company will take. A corporate resolution is binding.