New Mexico Nonprofits
Registration, Tax Exemption, and Annual Report Filing Requirements
New Mexico Nonprofits - A Guide to Registration and Tax Compliance
Understanding the guidelines and requirements set by the relevant state agency is essential for successfully establishing and operating a nonprofit organization.
Here, you can find how to start and register a nonprofit in New Mexico, obtain tax-exempt status, understand the annual filing requirements for nonprofits in the state, and more.
| Requirements |
Registration
|
Annual Filing
|
|||
|---|---|---|---|---|---|
| With the State of New Mexico | With New Mexico Secretary of State | With the New Mexico Department of Justice | Annual Report with Department of Justice | Annual Report with Secretary of State | |
Required Forms |
|||||
Due Date |
Before establishing a Nonprofit entity | within 30 days of date of incorporation | Before soliciting any contributions | Within 6 months after the close of the organization's fiscal year, | 15th day of the 4th month after the organization’s fiscal year ends. |
Filing Fee |
$25 | $10 | N/A | N/A | $10 |
Frequently Asked Questions
How to start a nonprofit in New Mexico?
To start a nonprofit in the state of New Mexico, you must follow these registration procedures.
Article of Incorporation Registration with the New Mexico Secretary of State:
To register your nonprofit in New Mexico, you need to submit the organization's name and Articles of Incorporation to the New Mexico Secretary of State, along with the incorporation filing fee of $25.
Typically, this submission must include the following information:
- Name of the Nonprofit
- Purpose for which the Nonprofit is incorporated
- The name of the registered agent
- The names and addresses of the initial board of directors
Initial Report:
The New Mexico Secretary of State requires nonprofits to file an initial report after filing the articles of incorporation.
Charitable solicitation registration with the New Mexico Department of Justice:
Any charitable organizations that originate, operate, or solicit contributions in New Mexico are required to register with the New Mexico Department of Justice unless they are exempt under the Charitable Solicitations Act.
How to obtain tax-exempt status from the State of New Mexico?
Any nonprofit that obtained 501(c) tax-exempt status from the IRS by submitting either Form 1023 or 1024 is automatically qualified as tax-exempt with the State of Alabama. The state doesn’t require these organizations to submit a separate application to qualify as an exempt organization.
This means that the organizations will be exempt from both federal and state income taxes.
What are the annual filing requirements for nonprofits in New Mexico?
Annual Report (Department of Justice):
The nonprofit organizations that obtained tax-exempt status are required to file the annual report with the New Mexico Department of Justice through the online portal - NM-COROS along with a copy of IRS Form 990-N
Note : Organizations that file IRS Form 990 and have more than $500,000 in total revenue, or more than $750,000 in total expenses effective Jan 1, 2024, are required to perform and independent audit and file an electronic copy with the NMDOJ.
Annual Report (Secretary of State):
The New Mexico Secretary of State also requires nonprofits to file the annual report.
When is the deadline to file Annual Filings with the state of New Mexico?
Annual Report (Department of Justice):
The annual report of the charitable organization is due within 6 months after the close of the organization's fiscal year. This means if the organization follows the calendar tax year, the deadline for annual renewal is June 30.
Annual Report (Secretary of State):
The due date to file the annual report with the secretary of state is on 15th day of the 4th month after the organization’s fiscal year ends.
Are there any penalties for late filing of the annual report?
Annual Report (Department of Justice):
If an organization fails to register and/or fails to file annual reports on time and/or fails to make a timely request for an extension of time to file annual reports, they will be subject to a $100 penalty.
Annual Report (Secretary of State):
If the organization fails to file the annual report on or before the due date, will result in the penalty of $10.
How to file annual reports with the state of New Mexico?
Annual Report (Department of Justice):
To file annual report with the Department of Justice using the New Mexico Charitable Organization Registration Online System (NM-COROS).
Annual Report (Secretary of State):
File annual reports with the secretary of state through the online portal provided by the State of New Mexico.