99% of new businesses are required to get a(n) , Albuquerque business tax id registration (business license).
Businesses with an trade firm name other than the owner's legal name are required to get a(n) Bernalillo County DBA ( doing business as ) fictitious business name.
You may also need a resale license if you selling touchable items. (A.K.A NM seller's permit, state id, wholesale, resale, reseller certificate).
In addition you will need a federal and a state EIN if you will hire employees. I.e., a NM Federal Tax Id Number and a(n) NM State Employer Tax Number
Instead of filing an Assumed Trade Firm business name ("DBA" Doing Business As) in Albuquerque, set up a coporation in NM or set up a(n) NM LLC
Here's How to Get Your NM Seller's Permit and Other permits and Registrations You May Need.
NM Seller's Permit, LLC, DBA, Licenses & Tax IDs Requirements:
Obtain all licenses and registrations here online.
New Mexico has a gross receipts tax that is imposed on persons engaged in business in New Mexico.
New Mexico imposes a gross receipts tax of 5% on most retail sales or leasing of property or performance of services in New Mexico.The tax is imposed on the seller but it is common for the seller to pass the tax on to the purchaser.
The state rate is 5.125%. Municipalities may assess an additional gross receipts tax, resulting in rates between 5.375% and 8.8625%.
Numerous specific exemptions and deductions apply. The tax may possibly increase depending on the state growth.
Anyone who engages in business in New Mexico must register with the Taxation and Revenue Department (TRD).
We may make an exception if your business is exempt from gross receipts, withholding, or compensating tax by state law.
After registering you will receive a New Mexico tax identification number. Use this number to report and pay state and local option gross receipts tax,
New Mexico withholding tax and compensating tax under the Combined Reporting System (CRS).
Known as a CRS Identification Number, it is used to report and pay tax collected on gross receipts from business conducted in New Mexico.
First decide on a business structure Retail Store as a Sole Proprietor, LLC/Corp, or Partnership.
✔ Step 2 All Retail Store Businesses need a , Business tax registration also called an occupation business License ✔ Step 3 Selling/Leasing or if wanting to buy or sell Retail Store merchandise, food, equipment requires a Seller's Permit. ✔ Step 4 All Retail Store Businesses Using a DBA doing business as name need a DBA Fictitious Business Name ✔ Step 5 Hiring Retail Store Workers Requires a Federal EIN and a State Tax Number EIN
Selling/Leasing or if wanting to buy or sell Retail Store merchandise, food, equipment requires a Seller's Permit.
All Retail Store Businesses Using a DBA doing business as name need a DBA Fictitious Business Name
Hiring Retail Store Workers Requires a Federal EIN and a State Tax Number EIN
As of 7/1/2025 9:13:51 AM, you can obtain your ALBUQUERQUE seller's permit here at $39 plus any tax you may have to pay in advance. To set up your reseller license is inexpensive but starting your business may cost you about (figures vary depending on area and type of business ) $8722.59 or $7787110.77 depending on your start up money. Getting a license in ALBUQUERQUE BERNALILLO ALBUQUERQUE, 87110 You will have many potential clients in this city. In fact, as much as 38417 but about 18288 are families in this area in NM. In addition, getting a 505 cell phone area code may help increase the idea that you operate from the city because you can text your clients as a local vendor (remember, everyone is texting these days). You can lease a space to operate your business from but if buying a house, the prices are (about $ 87110 119700 avergage value) , which you can use as a home operated business as well.
Your actual location in ALBUQUERQUE will be your business address. E.g., your business location could be 74943 ALBUQUERQUE Road/Avenue or 77TH Way/Ct or ALBUQUERQUE, NM . Operating from a 87110 P.O. Box location purported as your business mailing address. E.g. P.O Box 70761 ALBUQUERQUE,NM 87110 . However this turns out, in 1166 considering demographics is intelligent. For example,
before iinvesting in getting a wholesale license there, there are about 30549, Whites, 11922 Hispanics, and 872 Blacks in the 87110 area. Another important consideration is that of the residents' income in the wingspan of your business location. Each family here earns about $39670 per household and has about 2.59 residents per family. However, is the weather nice? Consider that the altitude is 4943 feet, and you getting a seller's license in 7 time zone.