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Sat December 28, 2013
Changes Streamline Process For Business
New Mexico businesses no longer have to wait months to get their legal paperwork from the state thanks to changes at the Corporations Bureau.
Since the New Mexico Secretary of State's Office took over the bureau, the average wait has been cut to three days.
Under the Public Regulation Commission, the wait used to be nearly four months.
The bureau is also being run on a $1.1 million annual budget, compared with $3.8 million under the PRC.
The details were outlined in a report this month to the Legislative Finance Committee.
When the Secretary of State's Office inherited the bureau, officials say there was an average 110-day waiting period to process documents and register corporations. That backlog has now been eliminated.
Information from: Albuquerque Journal, http://www.abqjournal.com
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