How to Start a Business

Instructions for starting and registering your business.

Learn more about Job Training Albuquerque (JTA), the City’s premier workforce development program. JTA provides Albuquerque small businesses the opportunity to skill up their employees through free training courses in high-demand skills. 

Follow these steps to start your business and get it registered with the City of Albuquerque.

Setting Up Your Business

Define the business. For whom, doing what, how and where?

Choose a business name. If you are planning on using a website, then you should consider registering your trade name and logo with the U.S. Patent and Trademark Office. You can perform the basic research at the U.S. Patent and Trademark Office website but will ultimately have to conduct a formal filing. The last thing that you want to have happened is to receive a letter from a lawyer telling you to stop using the name you have chosen because it is trademarked.

Choose and register your legal structure: The choices of legal structure for a business are:

  • Sole Proprietorship*
  • Partnership
  • Limited Partnership
  • Limited Liability Partnership
  • Corporation (C-corporation) **
  • Limited Liability Company

* Trademark filing is optional with the NM Secretary of State
** C-corporations that wish to elect S-corporation status should complete IRS Form 2553 once their C-corporation registration has been filed.

Employers Identification Number. 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.

 

Establish a Business bank account: If you plan to accept credit cards, it may be necessary to setup a merchant account.

Get Registered

Register with the State Taxation and Revenue Office for CRS identification number at its website, or visit their local office at:

N.M. Taxation & Revenue Department
5301 Central Ave. NE
Albuquerque, NM 87108
(505) 841-6200

Exceptions: Contact the City Treasury Division if your business involves any of the following:

  • Pawnbroking
  • Lodging (hotel, motel operations)
  • Professional fundraising
  • Business solicitations at private residences or on public streets or sidewalks

Questions? Call 505-768-3309 or email treasurypayment@cabq.gov

Submit your business registration application and payment online.

Need more information about business registration applications?

Learn more about registering your business from the Planning Department, or contact the Planning Department’s Business Registration Section. 

Employee Information

Report new hires to the New Mexico New Hires Directory: Federal and State laws require  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.

 

Start paying employee wages you need to fill out form ES802 online with the New Mexico Department of Workforce Solutions.

Visit the Workforce Solutions website.

 

Contact the IRS and your State Taxation and Revenue Office or a tax accountant if you have employees for the appropriate 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, and  Immigration and Naturalization Service (INS) Form I-9 for Employment Eligibility Verification.

Legalities & Compliance

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 Act (ADA).

View the latest information from the ADA website.

Insurance

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
  • Business motor vehicle