Starting a Business
Basic Steps to Starting a Business in Los Alamos, New Mexico- Define the Business: For whom, doing what, how and where
- 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.
- Select a Business Location
- Choose and Register Your Legal Structure: The choices of legal structure for a business are:
- 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)
- The following are registered with New Mexico Secretary of State, (who clears the name only in the state).
- Obtain your Federal Employers Identification Number (FEIN) from the IRS:
- Register with the State Taxation and Revenue for CRS tax number:
- Obtain your Business License:
- Los Alamos County Business License Form
- Take it to Community Development Department at 1000 Central Avenue, Suite 150 and pay $35.
- Obtain Other Applicable Licenses
- Optional: Check with an Attorney: Regarding leasing agreements, contracts, patents, copyrights, intellectual property and licensing agreement requirements.
- Establish a Business Bank Account:
- If you plan to accept credit cards it will be necessary to setup a Merchants Bank Account.
- Check your Insurance Coverage: The following are some, but not all, insurance policies that you need to consider.
- 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.
- Business Plan – The Small Business Development Center at UNM-LA is a great resource for starting your Business Plan. Reach out to schedule a free consultation.
- Advertising and Promotion:
- Business Cards
- Brochures
- Website
- Social Media
- Financing:
- Self-Financed
- Loan – Listing of local financial institutions
- Investors
- Tax Planning:Record-Keeping
- Business Deductions
- Business Taxes – Listing of local CPAs and Accountants
- Record-Keeping
Local Start Up Resources
LOS ALAMOS SMALL BUSINESS DEVELOPMENT CENTER
The Los Alamos Small Business Development Center is here to help the entrepreneur with their small business needs. Whether it be starting or financing your small business, Los Alamos SBDC offers a wide range of education and expertise to help you along the road towards entrepreneurial success. We serve the communities of Los Alamos County including White Rock. Come visit us, we’re here to help.
Sandy Jones – Director
sjones15@unm.edu
505-662-0337
4000 University Drive, Los Alamos, NM, 87544
LOS ALAMOS BUSINESS ACCELERATOR
Participate in this free training program to de-risk your entry into Los Alamos retail or food & beverage, and have the potential to run a business pop-up storefront rent and utility-free. The program runs once per year in the Fall.
Visit the Los Alamos MainStreet Business Accelerator website for more information!
Jacquelyn Connolly, Executive Director, Los Alamos MainStreet and Creative District – jacquelyn@losalamos.org
Ryn Herrmann, Director, Los Alamos Chamber of Commerce – ryn@losalamos.org
PROJECT Y COWORK & SMALL BUSINESS CENTER
projectY cowork Los Alamos, a collaborative coworking space located in Los Alamos, New Mexico, serves as a hub for startups, freelancers and others to be connected to like-minded entrepreneurs, business experts, investors and mentors who will help them achieve their personal and professional goals. There are private phone booths, a small conference room, reliable WiFi, coffee and snacks.
150 Central Park Square, Los Alamos
The Small Business Center offices private offices downtown at flexible and affordable rates. There is also a small shared kitchen with a sink, microwave and tables.
190 Central Park Square, Los Alamos, NM
Regional Development Corporation (RDC)
Los Alamos County – Economic Development Office
LACDC (Los Alamos Chamber of Commerce)
Los Alamos National Laboratory – Community Programs Office
Los Alamos National Laboratory – Feynman Center for Innovation