Get Up to Speed on GRT and Business Taxes

Unlike many states that require businesses to collect a tax on products sold (referred to as a sales tax), New Mexico imposes the state’s Gross Receipts Tax (GRT) that must be collected on the sale of products AND services. Sell advice or IT services, even if you don’t sell a tangible product? New Mexico’s GRT must be added to the amount your client will pay.

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Conferences Offer Business Resources, Loans, and Networking

Several June and July conferences aim to offer networking opportunities and equip participants with knowledge about business resources and available capital, including loans and grants. The nonprofit lender and business development organization WESST is offering a half-day Women’s Entrepreneurship Conference in collaboration with Arrowhead Center at NMSU on July 18. The Atomic 66 Convergence of Space, Art, Tech, and Culture takes place June 10 to 13, and the Women Veterans Conference is June 14, 2025.

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Program Pairs Businesses with Unique Expertise

The New Mexico Small Business Assistance Program was enabled by state legislation to bring the “technology and expertise of the national laboratories to small businesses in New Mexico to promote economic development in the state…” In exchange for a tax credit, New Mexico’s national laboratories and their partners work one-on-one with small businesses and entrepreneurs to solve problems that are often seen as roadblocks to business growth. NMSBA Program assistance ranges from product analysis and testing to inventory and manufacturing management, with myriad others in between. Businesses can learn about the program at an event in Santa Fe from 2:00 to 4:00 pm on May 20, 2025.

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Learn about Robotics

Manufacturers can learn about robotics for business use at a day-long demonstration workshop in Albuquerque on May 8. New Mexico Manufacturing Extension Partnership (New Mexico MEP), a nonprofit organization that helps manufacturers increase profits and competitiveness, is hosting the robotics firm FANUC, which will lead the demonstrations. The event is free, but registration is required because space is limited.

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Get Your Deep Tech to Market Faster

The deadline to apply for The New Mexico Lab-Embedded Entrepreneur Program (NM LEEP) is fast approaching. Applications are being accepted until May 8, 2025, from technology entrepreneurs ready to obtain two years of individualized assistance to commercialize their technology. The program pairs deep-tech entrepreneurs with the unique talent and technology of Los Alamos and Sandia national laboratories, matching LEEP fellows with seed capital and a large network of mentors, customers, and investors. The current application period is for the 2026 cohort.

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Learn to Use QuickBooks to Manage Business Finances

April is Financial Literacy Month, and for business owners, that means getting business finances in order. The business development organization WESST is offering a workshop in Santa Fe from 10:00 am to 12:00 pm on April 22, 2025, to teach business owners how to use the QuickBooks financial and accounting software.

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