Retail Store Permits & Licenses in Albuquerque, NM

Required for all LLCs. Annual report filing also required ($10 fee, due annually by last day of anniversary month).

Renewal required every 5 years ($25 fee). Not required if using exact LLC name.

All retail stores must register for Gross Receipts Tax (NM's sales tax). CRS-1 form. File and pay monthly/quarterly based on revenue.

Maintains good standing. Online filing preferred.

Issued by Consumer Protection Division. Renewal annual. Required for retail stores selling to public.

All retail stores in New Mexico must register for a sales tax license to collect and remit gross receipts tax (GRT), which functions similarly to sales tax. Registration is done via the Taxation and Revenue Department's online portal.

Retail stores are subject to GRT instead of traditional sales tax. GRT is imposed on gross receipts from sales of goods and services. Filing frequency is assigned by the department based on expected monthly receipts.

Required for all employers in New Mexico who pay wages to employees. Employers must withhold state income tax from employee wages and remit it to the state.

Part of mandatory workers' compensation insurance. Covers employer liability for workplace injuries. Required for all employers with employees in New Mexico, regardless of business structure.

While not required for all single-member LLCs with no employees, most retail stores obtain an EIN to open a business bank account or for vendor relationships. IRS Form SS-4 is used to apply.

Retail LLCs must determine their tax classification. Most default to pass-through taxation. Sales of goods may generate self-employment income subject to SE tax.

Retail stores must comply with general duty clause and specific standards (e.g., emergency exits, electrical safety). OSHA Form 300A posting required Jan 1–Apr 30 annually if 10+ employees.

Requires accessible entrances, aisles, counters, restrooms (if provided), and policies for service animals. Applies regardless of number of employees or revenue.

Retail stores that recycle batteries or handle certain electronics may be classified as Small Quantity Generators (SQG). Must comply with storage, labeling, and disposal rules under RCRA.

Retail stores must ensure advertising is truthful, not misleading, and substantiated. Includes pricing disclosures, "bait-and-switch" prohibitions, and online marketing. Applies to in-store, digital, and print ads.

Requires payment of federal minimum wage ($7.25/hour), overtime (1.5x for hours over 40/week), proper recordkeeping, and youth employment rules. Retail stores often face audits for misclassification or overtime issues.

Requires eligible employees (12 months, 1,250 hours) to receive up to 12 weeks of unpaid, job-protected leave for qualifying reasons. Retail stores in urban areas are more likely to meet threshold.

Form I-9 must be completed for every employee. E-Verify is not federally required unless in a participating state or federal contractor, but some federal grants may require it.

Prohibits unfair or deceptive acts in commerce. Retail stores must honor warranties, avoid false claims, and comply with refund policies. Includes compliance with the Magnuson-Moss Warranty Act for written warranties.

General retail operations (e.g., clothing, home goods) do not require federal licenses. However, selling regulated products (e.g., alcohol, tobacco, food) triggers additional federal requirements.

Retail food establishments are generally exempt from FDA facility registration under 21 U.S.C. § 415, but if the store manufactures, processes, packs, or holds food, registration may be required. Most standard retail is exempt.

Federal license required in addition to New Mexico state license. TTB Form 5630.5c must be submitted. Retailers must also comply with federal labeling and advertising rules.

Retailers must ensure devices are properly certified and labeled. Cannot sell non-compliant or modified equipment. Applies to both new and used electronics.

Requires reporting of Beneficial Ownership Information (BOI) to FinCEN under the Corporate Transparency Act. Includes identifying individuals who own or control the LLC. Does not apply to certain large entities, but most small retail LLCs must comply.

Frequency of filing (monthly or quarterly) is determined by the department based on the average monthly tax liability.

All employers with employees in New Mexico must register with the New Mexico Workforce Solutions Department and pay unemployment insurance (UI) taxes.

Employers must file Form UC-4/5/Adj quarterly and pay unemployment insurance tax. Rates are experience-rated after the first few years.

As of January 1, 2022, the New Mexico franchise tax was repealed. LLCs are no longer subject to this tax. Instead, they are subject to gross receipts tax and other applicable taxes.

Most cities and counties in New Mexico require a local business license or privilege tax registration. For example, Albuquerque requires a Business Tax Registration Certificate. Requirements and fees vary by locality.

In addition to state GRT, many municipalities and counties impose local option gross receipts taxes. These are collected and remitted through the state system.

Retailers selling cigarettes or tobacco must register separately and file excise tax returns. Cigarette tax is $1.66 per pack; other tobacco taxed at 37% of wholesale price.

Retailers selling alcohol must register for alcoholic beverage excise tax. State excise tax is $0.48 per gallon for beer, $2.40 per gallon for wine, and $12.00 per gallon for spirits. Separate state and local licenses may also be required.

Only applies if the retail business includes lodging (e.g., gift shop at a bed and breakfast). Standard retail stores without lodging are not subject to this tax.

All employers in New Mexico must carry workers' compensation insurance. Coverage must be obtained through a licensed insurer or self-insurance program.

Required for all active business entities. Failure may result in loss of legal protection and tax privileges.

Required for all businesses operating within Albuquerque city limits. LLCs must provide NM Secretary of State filing number.

Not required if located within Albuquerque city limits. Retail stores classified under general mercantile.

All domestic and foreign LLCs registered in New Mexico must file an Annual Report each year. The report can be filed online through the Secretary of State’s website.

Retail stores are subject to GRT on all sales. Most businesses must file monthly. The return is filed electronically via Taxpayer Access Point (TAP).

Employers must withhold state income tax from employee wages and file Form WH-1. Frequency (monthly or quarterly) is determined by the department based on liability.

LLCs with employees must file Form 941 (quarterly) and Form 940 (annually) for federal payroll taxes. EIN is required but does not need renewal.

The 'Job Safety and Health Protection' poster must be displayed in a prominent location accessible to all employees. Available in English and Spanish.

All employers in New Mexico must carry workers' compensation insurance. Sole proprietors without employees are exempt. Coverage must be verified annually.

Retail stores must obtain a local business license or permit. Requirements and fees vary significantly by city or county. Example: Albuquerque requires a Business Tax Certificate.

All retailers must register for a Combined Reporting System (CRS) ID and collect Gross Receipts Tax. No expiration, but account must remain active and compliant.

Retail stores are classified as 'Mercantile' occupancy and subject to annual fire safety inspections. Compliance with NFPA and International Fire Code required.

Retail stores must comply with local building codes. Initial inspections required for occupancy; periodic checks may occur. ADA accessibility is part of this review.

Employers must display state and federal labor law posters, including minimum wage, workers' comp, and anti-discrimination notices. Available for download from DWS website.

Businesses must keep books, receipts, invoices, and tax returns for at least 4 years from the due date of the return. Applies to GRT, withholding, and other state taxes.

IRS recommends keeping business tax records for at least 3 years. Employment tax records must be kept for 4 years. Applies to all LLCs regardless of employee status.

Retail stores open to the public must comply with ADA Title III. Includes physical access, signage, and policies. No formal renewal, but compliance must be maintained.

Employers must file quarterly wage reports and pay unemployment insurance tax. New employers are assigned a standard rate until experience-rated.

Confirms property zoning allows retail use (C-1/C-2 zones typical). Required for Certificate of Occupancy.

Retail fit-outs typically require permits for electrical, plumbing, mechanical work.

Maximum sign area regulated by zoning district (typically 1 sq ft per linear foot of building frontage).

Group M occupancy (mercantile) requires annual inspection for fire suppression, exits.

Verifies compliance with building, fire, zoning codes. Change of occupancy from previous use requires new CO.

False alarm reduction ordinance strictly enforced for retail establishments.

Required even for packaged food if open display cases or coolers used.

Not legally required by New Mexico state law for retail businesses, but strongly recommended. Often required by landlords, lenders, or property leases. Not enforced by any state agency.

Not legally required for retail stores in New Mexico. May be necessary for businesses offering advice or services, but not standard retail sales. Not enforced by any state agency.

No general surety bond requirement for standard retail stores. However, certain retail activities (e.g., selling alcohol, operating a pawn shop) may require a surety bond as part of licensing. Check with RLD or local municipality. Example: Alcohol wholesaler/retailer bond of $1,000–$10,000 depending on license type.

Required for any vehicle registered to the business. Minimum liability coverage: $25,000 bodily injury per person, $50,000 per accident, $10,000 property damage. Enforced through vehicle registration system.

Not legally required by New Mexico law, even for businesses selling physical products. However, it is strongly recommended due to risk of lawsuits. Not enforced by any state agency.

Mandatory for any retail business holding an alcohol license. Coverage must include 'dram shop' liability. Minimum limits typically $250,000–$1,000,000 per incident. Required as part of alcohol license application process.