Starting a small Business in NM?

Question

I am wanting to start a small graphic design business in New Mexico with no employees, I have printed the forms for a TIN and a Business Licence on one of my forms I saw tat I need a Federal Tax number if I have employees but I am not so do I still need to do this step? Any information on getting a business started will be most helpful. What other steps do I need to take? TIA

Answer 1

Sorry about the complex and worthless answers you've received. It's very simple ... go to the local Small Business Development Center office. They will help, and their services are free.

New Mexico SBDC
Mr. Roy Miller, State Director
SANTA FE COMMUNITY COLLEGE
6401 Richards Avenue
Santa Fe, NM 87505
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Website: http://www.nmsbdc.org

Answer 2

Every business should have access to attorneys for advice in the development stage and while you are in operation. The problem becomes the expense to retain counsel for advice. You may want to consider a Pre-Paid Legal plan. This is by far the best way to access this type of information at a low cost. When you go on-line for advice from strangers you may end up being misinformed.

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I hope this helps. Much success in your business. Stay focused and don't give up.

David Ali, CITRMS
:)

Answer 3

In the US, all you need is the desire, considering...
- You have no employees,
- You are not a partnership, or corporation,
- You name your business according to your name, and line of work.

Here is more detail...
- In order to employ, you need to identify your business outside of "yourself." Your SSN is for your PERSONAL self.
- If you are a partnership, or corporation, the tax authorities need some way to identify that business. You must think of a partnership or corp as its own person or entity... the tax id number is like its SSN.
- If you choose to name your business other than the aforementioned, you need to file with your state's Dept of State. This is called a "Doing-Business-As (DBA)." This is required to conect you, the business, and the line of work.

Please, also, check with your state's Dept of Revenue to ensure you are charging/ withholdong correct sales tax for products and services offered. I do not know the req'ment for NM.

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Answer 4

It's a Wonderful Idea that you know Starting a small Business. You can find more information here.