Business license fees differ between counties and municipalities, starting around $35 initially and $35 for annual renewal. Additional fees depend on the license type, ranging from $350 to $750.
Starting Your Business
Acquiring necessary licenses and permits can be exhausting, but they’re required to operate a business in New Mexico. Start on the regulatory hurdles early to clear the way.
You can get a license by applying with the relevant agency, which depends on your location and activities. The application requires basic information like your LLC name, EIN, address and a questionnaire. Approval usually takes 5-7 days.
Not every business needs a license. But many either can or must acquire one or more. Most often, apply at your county clerk’s office. Sometimes licenses come from different offices or cities instead.
An LLC costs only $50 in state fees but may owe local fees too. An LLC can protect assets and help grow your business, so it’s usually the best choice.
You need sales certificates from cities, which start around $35.
New Mexico doesn’t require registration for sole proprietorships. But there are benefits like liability protection. You can register online through the Secretary of State.
Fees
- Initial fee: $35
- Annual renewal: $35
- Professional license range: $350 to $750
Process
- Determine your business structure.
- Register your business name (if necessary).
- Obtain an EIN (if you have employees or certain structures).
- Apply for the necessary licenses and permits.
LLC Formation
- State fee: $50
- Local fees: Variable
- Benefits: Asset protection, business growth
The process involves determining your structure, registering your name if needed, getting an EIN if you have employees or certain structures, and applying for necessary licenses and permits.
Not every business needs a license. But many can or must acquire one or more. Most often, apply at your county clerk’s office. Sometimes other offices or cities issue them instead.
Can you run a business from home in New Mexico? New Mexico’s governments have rules that entrepreneurs must follow to operate from their homes. Applying requires filing a letter that describes the business and submitting a sketch of the floor plan that identifies the office or business space and a map of where the home is located.
What is considered a small business in New Mexico?
Additional license fees are dependent on which license is being applied for. Costs span a range, such as $350 for a funeral establishment license to $750 for a tobacco license.