Form a Limited Liability Company (LLC) in New Mexico. By forming an LLC in New Mexico instead of a corporation, you get all the benefits of forming a corporation but you avoid a few drawbacks that you would run into if you formed a corporation. Specifically, when you form a corporation, you subject yourself to double taxation and excessive paperwork. Both of those annoyances can be avoided if you form an LLC.
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Benefits of Forming an LLC in New Mexico:
- Reduce your personal liability
- Save on taxes
- Improve your credibility
- Attract investors
- Ensure continuity
- Transfer ownership easily
- Share responsibility