Taxes and Other Regulation Quick Links
This link will give you quick information on: the NM Taxation and Revenue Department (GRT), music licensing, restaurant loans and financing, restaurant scams and general business quick links.
Operating Costs
- The New Mexico Gross Receipts Tax (GRT) is a required piece of your operating budget. The gross receipts tax rate varies throughout the state depending on the location of your business. Click here to view the tax rate schedule for your area. The NM Gross Receipts tax is subject to change each January and July. View previous schedules and tax map here.
- Taxpayers also have access there to two data tools that make it easier to comply with the destination sourcing rules. One tool is an application programming interface (API) that can be integrated into ecommerce or other web-based applications to automate the matching of street addresses to GRT rates and location codes. The other is a web-based service that allows users to upload bulk files of addresses that are then matched to location codes and GRT rates. Read More
Scams on Restaurant Operators
- NMRA Scam Resource Page – NMRA maintains this page of common scams that restaurant operators face.
- NM Attorney General’s Office
Music Licensing
- Music Licensing – what you need to know about playing music in your restaurant
Taxes
- Restaurant Tax Center – IRS information for restaurant businesses
- Reporting Tip Income – Restaurant Tax Tips
- State of NM Taxation and Revenue
- GRT Table for January – June 2023
General Business Restaurant Financing and more…
- WESST – offers business education and small loans
- The Loan Fund – provides loans and lines of credit to small businesses and business startups in New Mexico.
- State Economic Development Dept
- www.generalservices.state.nm.us – if you wish to do business with the state of NM
- Business Census – Most businesses will be receiving a census form in the late part of 2012. Every 5 years, the Economic Census develops a comprehensive portrait of American business, from the national to the local level. Timely and accurate data are vital to effective public policy and important to our association and membership.
- Best Insurance for Your Restaurant – Which types of insurance is best for your restaurant? Find out here.
Financing Your Restaurant
- City of Albuquerque Environmental Health Department – contact information, design/construction process, more
- City of Albuquerque Design/Construction Reference
- Financing
- Accion New Mexico – Commericial lending and other small business and microfinance support services.
- Finance New Mexico – resource for financing a small business.
- The Loan Fund – Provides business loans and other assistance.
- WESST.org – small business loans, education on everything from opening to accounting to operating a business.
Serving Customers
- Albuquerque Water by Request Ordinance – water may only be served upon customer request, not automatically.
- Service Dogs – Two resources to answer your questions about serving customers with assistance dogs.
