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New Mexico Business Formation Questions & Answers
Q: Starting a vending machine business in NM: required licenses and permits?
I am starting a vending machine business in New Mexico and plan to operate in multiple locations, offering snacks and drinks. I currently do not intend to hire employees. What business licenses and permits do I need to obtain to legally operate?
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James L. Arrasmith
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answered on Jul 6, 2025
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answered on Jul 6, 2025
To start a vending machine business in New Mexico, you must first register your business with the New Mexico Taxation and Revenue Department and obtain a Combined Reporting System (CRS) identification number. This allows you to collect and remit gross receipts tax on your sales. If you operate... View More 
Q: How can heirs of an estate in New Mexico form an LLC for real estate assets during probate?
My father's estate is currently in probate in New Mexico. My sister and I are authorized to handle the affairs of the estate. We want to incorporate certain assets, including real estate, into an LLC, with shares distributed evenly among heirs. This would allow us to sell the assets at a... View More
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James L. Arrasmith
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answered on May 15, 2025
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answered on May 15, 2025
To form an LLC while your father’s estate is still in probate, you and your sister—as authorized representatives—can create the LLC in New Mexico with the estate listed as the initial member. You'll need to file Articles of Organization with the state and draft an operating agreement... View More
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Q: What is the best way to gift CDs for grandchildren in NM?
I am considering gifting CDs to my two grandchildren, aged 12 and 17, in New Mexico. Each CD would start at $15,000 from my Credit Union. Given New Mexico's $16,000 gift limit and the availability of free higher education in the state, I want to ensure the funds can be used for other expenses... View More
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Anthony M. Avery
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answered on Apr 2, 2025
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answered on Apr 2, 2025
Hire a NM attorney to construct those gifts. They involve many different laws and may require a trust or a gift to minor act, etc. The expense required may not justify this.
Q: "Do I owe taxes for a $3 Wise transfer before dissolving my NM LLC? What’s the average cost for dissolution?"
I hope you're doing well. I’m considering dissolving my LLC, which is based in New Mexico. The LLC has not generated any income, except for a personal transaction of $3 via Wise.
I appreciate your insight and guidance on this matter.
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James L. Arrasmith
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answered on Sep 30, 2024
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answered on Sep 30, 2024
Dissolving your LLC in New Mexico is a straightforward process, but you should ensure all financial obligations are addressed before doing so. The $3 Wise transfer you mentioned sounds like a personal transaction, and if the LLC didn’t generate any income, it's unlikely to have significant... View More
Q: Can two businesses use similar names?
A company called Aftermath, INC. contacted me saying we cannot use the word "aftermath" for my LLC. My LLC is called "Aftermath Cleanup Unit."They said they trademarked the word Aftermath. Is this possible? If so why did the Secretary of State grant me a business license with my company name?
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Michael Ray Smith
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answered on Sep 4, 2019
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answered on Sep 4, 2019
Your question involves two different issues: trademarks and the names of entities.
First, let's talk about trademark rights. The essence of a trademark is to identify the source of goods or services. Trademark infringement occurs when one mark used in connection with goods or services... View More
Q: my ex wife and I owned a local corporation and we have divorced. My ex told me that the company was dissolved. how???
I have the articles of the corporation showing me as an officer and that the corporation has not been dissolved. Would a case like mine fall under tax law??
D. Mathew Blackburn
answered on Jul 30, 2019
answered on Jul 30, 2019
It wouldn't be tax to determine if it was dissolved or not. You'd need a business attorney. You can also check the Secretary of State's website to see the current status.
If it was dissolved you may have a taxable event on liquidation.
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