Starting A Business In Truth Or Consequences

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The State of New Mexico Maintains a Business Navigator to step you through the state regulations such as registering your business, obtaining tax ID numbers and applying for permits, if needed.

Permit and licensing requirements may be different depending upon the type of business but the simplest steps to get your business registered are:

1. Registering Legal Business Structure with the Secretary of State - Partnerships and
corporations must mail in their registration, but if you are starting an LLC, you can register
online.


2. Apply for an Employee ID Number (EIN) from the IRS. An EIN is a unique number
assigned to a business for tax administration purposes.

3. Obtain a Tax ID Number from the State Taxation and Revenue Department. This is the
registration process required to report state taxes.


4. Obtain a business license in the City of Truth or Consequences. This license must be
renewed with the city on an annual basis.

Need help deciding your business structure?


If you are unsure of what business structure is best for your situation, the SBA link below may offer some guidance. You may also consider contacting an attorney or a CPA for a consultation. Choose a business structure (sba.gov)

Additional Info


(If your business moves to a new location)
If your business moves to a new location, please notify the Planning & Zoning Office at 401 McAdoo Street, Truth or Consequences, NM 87901 so that they can approve the zoning and suitability of the new location. Once approved, please go by the City Clerk's Office and notify them of the move so that they can update your business information and ensure that renewal notifications are sent to the proper address.


Hiring Employees?
Employers are required to display both state and federal labor and employment posters. This means that employers must post certain notices in the workplace, so employees have access to information about the applicable labor laws.

 

Free printable downloads here:
New Mexico Labor Law Posters in 2022 | TRUiC (howtostartanllc.com)

Small Business Resources


Small Business Administration (SBA)
https://www.sba.gov/
A great resource for researching how to plan, start, and maintain a business in the U.S.


New Mexico Small Business Development Center (NMSBDC)
http://www.nmsbdc.org/
Free business counseling for NM small businesses with an office available in Las Cruces. They also offer free and low cost training workshops on financing, business plans, marketing, social media, and other topics.


How to start an LLC in New Mexico - New Mexico LLC - How to Start an LLC in New
Mexico | TRUiC