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The Libertarian Party of New Mexico is the New Mexico affiliate of the Libertarian Party. Since 2016, the Libertarian Party of New Mexico has been qualified as a major party in New Mexico. In 2018, the party became the first Libertarian Party to have a statewide officeholder when Public Lands Commissioner Aubrey Dunn Jr. switched his partisan affiliation from Republican to Libertarian.
On June 27, 1972, the Libertarian Party of New Mexico filed its articles of incorporation with the New Mexico Corporation Commission. Diana Amsden, Maurice McDonald, and Sidney Light were listed as the original directors. On July 22, the party held its first state convention where seven people were selected to serve on its executive committee and a political platform was approved.
On September 1, 1978, Bob Walsh filed a lawsuit in the U.S. District Court against County Clerk Emma C. Gonzales so that he could be placed onto the ballot for the New Mexico House of Representatives from the 22nd district. Assistant County Attorney John J. Carmody Jr. had advised Gonzales not to place Walsh onto the ballot as New Mexico law required political parties to file their party rules with the county clerk within thirty days after the party organization was formed, which the Libertarians did not do, and that the Libertarian Party did not have a process for nominating legislative office candidates in single county districts. On September 8, District Judge Phillip Baiamonte ruled against Walsh. Walsh appealed to the New Mexico Supreme Court, but the Supreme Court ruled against him.
In 1983, Senate Bill 352, which would reduce the required number of signatures to appear on the election ballot from 3% of the total votes cast in the most recent presidential or gubernatorial election to 1% of the total votes cast in the most recent presidential or gubernatorial election, was introduced at the request of the Libertarian Party of New Mexico. The legislation passed in the New Mexico Senate and New Mexico House of Representatives. On April 7, Governor Toney Anaya signed the legislation into law.
In 2016, the Libertarian presidential nominee, former New Mexico Governor Gary Johnson, received over 9% of the popular vote in the presidential election in New Mexico. By receiving over 5% of the popular vote in a statewide election Johnson gave the party major party status in New Mexico.
During the 2018 gubernatorial election Bob Walsh filed to run as the party's gubernatorial nominee and Robin Dunn as the lieutenant gubernatorial nominee. However, both filed after the deadline forcing them to run as write-in candidates to appear on the general election ballot. In the primary both failed to receive enough write-in votes to appear on the general election ballot.  The party maintained its major party status after receiving over 5% of the popular vote in the land commissioner and secretary of state elections.