- Business card
- Business class
- Business ideas
- Business license
- Business management
- Business park
- Business plan
- Business school
- Business solutions
- Financial aid
- Financial group
- Financial management
- Financial services
- Financial statements
- Home business
- Personal Finance
- Savings account
- Small business
- Wealth management
How to Start A Business
Follow these steps to start your business and get it registered with the City of Albuquerque.
Define the Business: For whom, doing what, how and where
Choose a Business Name. If you are planning on using a web site then you should consider registering your trade name and logo with the U.S. Patent and Trademark Office. You can do the basic research at U.S. Patent and Trademark Office website but will ultimately have to do a formal filing. The last thing that you want to happen is to receive a letter from some lawyer telling you to stop using the name you have chosen as it is trademarked.
Choose and Register Your Legal Structure: The choices of legal structure for a business are:
Sole Proprietorship (Trademark filing is optional with Secretary of State)
The following are registered with the Secretary of State, who clears the name only in the state.
- Limited Partnership
- Limited Liability Partnership
- Corporation (C-Corporation)
- Limited Liability Company
C corporations who wish to elect S corporation status should complete IRS form 2553 once their C corporation
registration has been filed.
Obtain your Federal Employers Identification Number (FEIN) from the IRS: The application forms, SS-4, are
available at the IRS website, by telephone, fax, or the local IRS office.
Register with the State Taxation and Revenue for CRS tax number at their website
Or visit their local office at:
N.M. Taxation & Revenue Department5301 Central NE
Albuquerque, NM 87108 - Map
Contact the City of Albuquerque's Environmental Health Department if any of the following apply to your business:
- Involves handling, preparing, or serving food
- Has a swimming pool
- Is a liquor store, bar, lounge, or convenience store selling liquor
The Environmental Health Department inform you know if City Health Ordinances apply to your business. They also will issue the clearance forms and determine inspection fees.View Environmental Health Department information
Contact the City Treasury Division if your business involves any of the following:
- Lodging (hotel, motel operations)
- Professional fund raising
- Business solicitations at private residences or on public streets or sidewalks
View Treasury Division contact information
Submit your Business Registration Application and payment online
Need more information about Business Registration Applications?
Report New Hires to the New Mexico New Hires Directory: Federal and State law requires employers to report
newly hired and re-hired employees in New Mexico to the New Mexico New Hires Directory.
Visit the N.M. New Hired Directory website
As soon as you start paying employee wages you need to fill out form ES802 on line with the New Mexico
Department of Workforce Solutions.
Visit the Workforce Solutions website.
If you have employees, contact the IRS and your State Taxation and Revenue Office or a tax accountant for theappropriate forms and rates for the following: State Unemployment Tax (SUTA), Federal Unemployment Tax(FUTA), Federal Income Tax (FIT), State Income Tax (SIT) if applicable, Social Security Withholding (FICA),
Medicare withholding, Immigration and Naturalization Service (INS) Form I-9 for Employment Eligibility Verification.
Check with an Attorney Regarding Leasing Agreements, Contracts, Patents, Copyrights, Intellectual Property
and Licensing Agreement Requirements.
Determine the Necessary Guidelines for Compliance with Title I and Title III of the Americans With Disabilities
View the latest information from the ADA website.
Establish a Business Bank Account: If you plan to accept credit cards it may be necessary to setup a Merchant
Check your Insurance Coverage: The following are some, but not all, insurance policies you might consider:
- Property and Liability
- Life and Health
- Business Interruption
- Disability Income and Key Person
- Product and professional liability
- Insure major equipment for replacement value
- Comprehensive general liability (umbrella policy)
- Worker’s Compensation
- Motor vehicle.
Category: Small business