New Mexico DBA BUSINESS NAME

If you are the shareholder / owner of  a corporation, LLC, or other state registered limited entity, the legal name is the name on the face of the filed articles / certificate. Other than corporate state created entities,  the legal name of the owner is the personal name of the business owner or owners.  Starting business operations in () and even opening a bank account under any name other than your legal name requires a DBA filing.

Get Your New Mexico DBA, Doing Business as, Fictitious Business Name Statement, Certificate of Assumed Business Name, Fictitious Firm Name, Doing Business As, DBA business certificate.

NM DBA stands for "doing business as."   Depending on the state,  governments may also use the terms fictitious business name, trade name or assumed name.  You are required to register Augusta DBA if your business operates under a name other than its legal name.

GETTING A NM DBA VS. INCORPORATING OR FORMING AN LLC

 

WHAT IS A <span style="font-size: 1.1em;color:green"> <div class="fa-3x"> <i class="fa-duotone fa-cactus fa-3x" style="--fa-primary-color:blue; --fa-secondary-color: yellow"> </i></div> <h4>Starting a Small Business in New Mexico</h4> New Mexico is a great state for entrepreneurs looking to start a small business. The state offers a number of resources and incentives to help small business owners get started, including low-interest loans, tax credits, and assistance with business planning and development. Additionally, the state has a diverse and growing economy, with strengths in industries such as aerospace, energy, and film production. <h4>New Mexico Stats and Facts for Small Businesses</h4> - As of 2019, there were over 166,000 small businesses in New Mexico, which employed nearly 350,000 people. - The top industries for small businesses in New Mexico include healthcare and social assistance, accommodation and food services, and retail trade. - New Mexico has a relatively low cost of living compared to other states, which can be an advantage for small business owners looking to keep overhead costs low. - The state has a diverse population, with a mix of Native American, Hispanic, and Anglo cultures, creating unique opportunities for small businesses that cater to specific cultural needs. <h4>Special and Peculiar Features of New Mexico</h4> - New Mexico has a rich history and culture that is reflected in its official state symbols. For example, the official state tree is the Pinyon Pine, which is a common tree in the state's high desert regions. The official state animal is the black bear, which is found throughout the state's forests and mountain ranges. - The state is known for its unique landscape, which includes desert, mountains, canyons, and mesas. This diverse terrain offers opportunities for outdoor recreation, such as hiking, skiing, and camping. - New Mexico is home to several national parks and monuments, including Carlsbad Caverns, White Sands, and Bandelier National Monument. These sites attract millions of visitors each year, creating opportunities for small businesses that cater to tourists. <h4>Outlook for Small Businesses in New Mexico</h4> New Mexico has a bright outlook for small businesses, with a growing economy and a supportive business climate. The state government has made small business development a priority, with a number of initiatives and programs designed to help entrepreneurs succeed. Additionally, the state's location near major transportation corridors and its proximity to Mexico create opportunities for small businesses that are looking to expand into international markets. With its diverse culture, unique landscape, and vibrant economy, New Mexico is a great place to start and grow a small business.<br /> <h3>Professional License or Certification</h3>If your business requires a professional license or certification, you may need to obtain it from the relevant state agency. For example, if you are starting a medical practice, you will need to obtain a medical license from the New Mexico Medical Board. Other professions that may require licenses or certifications include: <ul> <li>Accountants</li> <li>Architects</li> <li>Contractors</li> <li>Electricians</li> <li>Engineers</li> <li>Plumbers</li> <li>Real estate agents</li> <li>Teachers</li></ul> <h3>Employer Identification Number (EIN)</h3>If your business has employees, you will need to obtain an Employer Identification Number (EIN) . This number is used to identify your business for tax purposes. You can apply for an EIN online or by mail. <h3>Sales Tax Permit</h3>If you sell goods or services that are subject to sales tax, you will need to obtain a Sales Tax Permit. You will need to collect and remit sales tax on behalf of the state. Actually, all businesses reqardless of the service or product they sell, are required to obtain and collect about 14% sales tax and remit it to the state. <h3>Use Tax Registration</h3>If you purchase goods or services for your business from out-of-state vendors that do not collect New Mexico sales tax, you may be required to pay use tax. Use tax is a tax on the use, storage, or consumption of goods or services in New Mexico. To pay use tax, you must register with the New Mexico Taxation and Revenue Department. <h3>Unemployment Insurance</h3>If you have employees, you may need to register with the New Mexico Department of Workforce Solutions for unemployment insurance. This program provides temporary financial assistance to workers who are unemployed through no fault of their own. <h3>Workers' Compensation Insurance</h3>If you have employees, you may also be required to carry workers' compensation insurance. This insurance provides medical and wage benefits to employees who are injured or become ill as a result of their work. <h3>Specialty Licenses and Permits</h3>Depending on the nature of your business, you may need to obtain additional licenses or permits from state and local agencies. Some examples include: <ul> <li>Liquor licenses</li> <li>Food service permits</li> <li>Fire and safety permits</li> <li>Environmental permits</li> <li>Zoning permits</li></ul> <h3>Conclusion</h3>Starting a small business in New Mexico can be a complex process, but obtaining the necessary licenses and registrations is an important step in getting your business up and running. Be sure to research the specific requirements for your industry and location, and seek professional guidance if needed. <br /> </span> DBA

A dba "Doing Business As" is just a business name certificate you are legally required to file - i.e, you need to register your NM business name and obtain a business name certificate, also called a DBA.   A DBA helps you open a bank account and be legal but it does not protect your personal assets because the business entity is still a sole owner or partnership.  A sole owner and all partners are liable for all civil or financial liability that the business incurs.

WHAT IS A New Mexico CORPORATION OR LLC

A corporation or LLC is a separate and distinct state created legal business entity - separate from its shareholders / owners.  Thus, a shareholder's / owner's assets, such as a home, personal bank account, or automobile, are not at stake if the corporation or LLC is sued and a court judgment is entered against it for civil or financial liability. 

Only the corporate or LLC assets are at stake.  If the corporation has one computer and $1,000 in a corporate bank account, that is all that can be seized.  If you register a dba and you are sued, you are liable for all business liability and creditors can go after your personal assets. Here is an example:

Business Licenses You Need to Legally Start Your Business

In a Nutshell -- Here's what you need to start:

All businesses must obtain:

• 1. A

  DBA

  Articles   On Friday, November 19, 2021 2:04:00 PM there was a question about Business Get DBA Filling Garland Tx  . The Services business category and Yoga teacher type, has   employees and located in Garland Dallas County  , TX 75040 and the business owner wants business credibility in the market as. deas XYZtch , Inc.Co Whatever name a company chooses to do business as, it requires a fictitious business name registration, which also requires a fee to be registered. Registering a fictitious business name does not protect that name nor does it protect the business owner from personal liability related to business actions as setting up a corporation does. It is perhaps a better choice to just incorporate for the same or a little higher fee because you will also have corporate protection for the business name and personal vs business liabilities. Registering a trade name allows you to create stationary and open a business bank account but you are not protected from liability. E.g. if your business has debts the lender can sue you personally to obtain a judgment vs your personal assets as opposed in the case you were a corporation where the lender could only sue the corporation directly and if the corporation had no assets the lender could get nothing.

  NM business License and an
  NM Assumed Business Name DBA.
  
• 2. All retailers and wholesalers of taxable items must obtain a Sales State Tax ID Number, also called a NM resellers, resale or wholesale number ID.
  
• 3. All employers, must get a New Mexico federal tax employer number and a
  New Mexico state employer number ID.
  
• 4. Optionally, to protect your personal assets, such as your home or automobile, from business related lawsuits or creditors, by NM forming an LLC
• If you want to protect your personal assets, you might consider incorporating in
  NM , or better yet form a
  New Mexico LLC .
  
• New Mexico Form LLC or
  New Mexico Incorporating.