Anyone who engages in business in New Mexico must register with the state Taxation and Revenue Department (TRD). After registering, TRD will issue a New Mexico tax identification number, which will be used to report and pay state and local option gross receipts tax, New Mexico withholding tax and compensating tax under the Combined Reporting System (CRS). Known as a CRS Identification Number, it is used to report and pay tax collected on gross receipts from business conducted in New Mexico.
The CRS Identification Number is also required in order to register with your municipal government, if your business operates inside the city limits.
Once you’ve registered your business, join the New Mexico Association of Commerce and Industry, which works to provide the tools and to create the environment for New Mexico businesses to thrive. In other words, support the organization that supports you.