Starting a Business

New Mexico Small Business Development Center

Network was created in 1989 by the New Mexico State Legislature. For 20 years it has supported the expanding, planning, business financing, and management efforts of more than 79,000 New Mexico businesses providing free small business consulting, affordable workshops, and business training.

sbdcNMSBDC can assist with:

  • Starting your business
  • Business plan development
  • Business expansion
  • Access to capital
  • Financials / bookkeeping
  • Human resources issues
  • Taxes
  • Marketing
  • Governmental contracting
  • International trade
  • Special programs

Checklist

  1. Prepare Articles of Incorporation
  2. Prepare SS-4 to get Federal ID number
  3. Prepare New Mexico Department of Labor form ES802
  4. Prepare 2553 if Sub S Corporation
  5. Make sure client has appropriate withholding information:
    1. Federal Circular E
    2. State withholding booklet
  6. Open up separate bank account after receiving Federal ID number
  7. Get Corporate Stamp for endorsing checks
  8. Issue Stock Certificates
  9. File Corporate Profit Report within 30 days of receipt from state of New Mexico
  10. Have and document a meeting to appoint officers
  11. Obtain Gross Receipts Tax number from state of New Mexico
  12. Obtain Business License from City of Albuquerque or other local government entity