Do Sole Proprietors Need a Business License in New Mexico?

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Starting a Sole Proprietorship in New Mexico

  1. Business Name Selection
    You can operate under your full name or a Doing Business As (DBA) name.

  2. Obtaining Licenses and Permits
    Depending on your business, you may need specific licenses and permits to operate legally.

  3. Tax Registration
    Register for the gross receipts tax if you sell taxable goods or services.

Licensing and Registration for Starting a Business in New Mexico

  • No general business license is needed for operating as a sole proprietor in New Mexico.
  • Additional licenses and permits may be required based on the nature of your business.
  • Estimated cost to register a sole proprietorship in New Mexico ranges from $200 to $500, influenced by specific licenses like occupational licenses and zoning permits.

Requirements for Operating a Business in New Mexico

  • Business Structure Decision: Consider time availability, capital, and business nature before choosing your business structure.
  • Sole Proprietorship Setup: Simple process that does not require legal filings with the state; follow specific steps to ensure correct setup.

Local Business Regulations in New Mexico

  • Each town in New Mexico may require local businesses to obtain licenses from the respective municipality.
  • Additional licenses and permits may be necessary depending on the business type.

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