We have created a pair of kits the will assist New Mexico small business owners to set up an eligible entity and then make a Subchapter S election with the IRS. Why would someone want to do that? Because operating as an s-corp can save up to 15% on self-employment taxes on the first $120,000 of profits. What’s better than earning profits? Getting to keep a bigger portion of them, of course!
Our New Mexico S Corporation kit
We offer two versions — one uses an LLC as the base entity and the other, the more traditional corporation. If you are sitting there reading this wondering which option is best for you, we would recommend the limited liability company kit. We prefer the LLC because it has more tax flexibility than a corporation, still protects/separates personal assets, and has fewer filing requirements. If you’re more traditional or have a specific reason, our corporation kit is also available.
Click this button to purchase the LLC version:
For the traditional corporation version, click below:
Note: as a bonus, we include a template operating agreement with the LLC version and bylaws for the corporate kit. These governing documents show who manages the business and their roles and responsibilities.
Money Back Guarantee
Worried you might spend $37.95 and not get what you need? Don’t. If the kit doesn’t work for you, send an e-mail to steve.nelson@stephenlnelson.com and we can refund the full purchase price.
Additional Resources
How Corporations Are Taxed: Get some information on some of the differences between “regular” c-corporations and their cousin, the s-corporation.
DPAD: A Big Deduction for Some Small Businesses: Do you manufacture, produce, or grow something in New Mexico? You may qualify!
What Tax Returns Are Required for a New Small Business: Your reporting requirements are going to increase compared to a sole prop, so be sure you know what needs to be filed!