Starting a Business

Basic Steps to Starting a Business in Los Alamos, New Mexico
  1. Define the Business:  For whom, doing what, how and where
  2. Choose a Business Name: It is important to do a name search federally and at the state level to make sure that the name is not already registered or taken.    The last thing that you want to happen is to receive a letter from some lawyer telling you to stop using the name you have chosen as it is trademarked.
  3. Select a Business Location
  4. Choose and Register Your Legal Structure: The choices of legal structure for a business are:
    1. The following are registered with New Mexico Secretary of State, (who clears the name only in the state).
      • Sole Proprietorship (Optional)
      • Partnership
      • Limited Partnership
      • Limited Liability Partnership
      • Limited Liability Company LLC Registration Form
      • Corporation (C-Corporation) Corporation Registration Form
      • S Corporation (Sub-Chapter S of the IRS Code) (Registered as a Corporation and elect to be taxed as an S-Corp)
  5. Obtain your Federal Employers Identification Number (FEIN) from the IRS:
  6. Register with the State Taxation and Revenue for CRS tax number:
  7. Obtain your Business License: 
  8. Obtain Other Applicable Licenses
  9. Optional: Check with an Attorney: Regarding leasing agreements, contracts, patents, copyrights, intellectual property and licensing agreement requirements.
  10. Establish a Business Bank Account:
    • If you plan to accept credit cards it will be necessary to setup a Merchants Bank Account.
  11. Check your Insurance Coverage: The following are some, but not all, insurance policies that you need to consider.Business Plan
    • Property and Liability
    • Business Interruption
    • Product and professional liability
    • Comprehensive general liability (sometimes call an umbrella policy)
    • Motor vehicle
    • Special types such as bonds, completion bonds, credit, crop, cast, etc.
    • Life and Health: Basic and Major Medical
    • Disability Income and Key Person
    • Insure major equipment for replacement value
    • Worker’s Compensation: Required with 3 or more employees, contractors with no employees.
  12. Business Plan
  13. Advertising and Promotion:
    • Business Cards
    • Brochures
    • Website
    • Social Media
  14. Financing:
    • Self-Financed
    • Loan
    • Investors
  15. Tax Planning:Record-Keeping
    • Business Deductions
    • Business Taxes
  16. Record-Keeping

Local Start Up Resources

Free Business Consulting

The Los Alamos Small Business Development Center offers free business consulting, training, and business plan assistance for Los Alamos businesses.

Ted Lopez – Director
505-662-0337

4000 University Drive
Los Alamos, New Mexico 87544

Venture Accelerator

The Los Alamos Venture Accelerator (LAVA) is the mechanism for entrepreneurs to get their ideas into the commercial market. LAVA provides mentors, investors, and a clear roadmap that leads entrepreneurs through the process of launching a business.

Find more information here.

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