If your business is a corporation or a Limited Liability Partnership, to maintain your business in good standing, a business owner must file a report with and pay a fee to the New Mexico Secretary of State soon after you start your business, e.g. Initial Report. If you own a Limited Liability Partnership, you must also file a report once a year e.g. Annual Report. If you own a Corporation, you must file every two years e.g. Biennial Report. This requirement does not apply to limited liability companies. Select the link according to your business type.