Businesses, both old and new, must pay Gross Receipts Taxes to the State of New Mexico when they sell a product or service in New Mexico. GRT differs from sales taxes charged by other states in that it applies to all sales – not just tangible items. The business development organization WESST is offering an online workshop at noon on March 7, 2025, to help small business owners understand their GRT obligation.
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Consider Giving to Business This Tuesday
The Tuesday after Thanksgiving marks Giving Tuesday when nonprofit organizations encourage charitable donations that can enable their charitable work. Often overlooked are grass-roots economic development organizations such as nonprofit lenders and business resource programs that support entrepreneurship in our state. Nonprofit lenders like DreamSpring, WESST, and others rely on private and public money they make available to startups and small businesses in New Mexico.
Continue readingMilitary Entrepreneurship Summit
The Military Community Entrepreneurship Summit will take place in Las Cruces on Dec. 3, 2024. The full-day summit offers essential business resource information to military entrepreneurs. Participants can tap into expert-led breakout sessions, networking opportunities, and the experience of veteran business owners.
Continue readingShop Local and Skip the Tax
November 30, 2024, is New Mexico’s Small Business Saturday Tax Holiday, when the state allows non-franchise, small businesses to deduct their sales of qualifying items from their gross receipts. The annual tax holiday, which coincides with Small Business Saturday nationwide, begins at 12:01 a.m. and ends at midnight the same day, giving shoppers an extra incentive to shop locally this holiday season.
Continue readingOwnership Report Due by January 1, 2025
Businesses operating in the United States have one more requirement to satisfy. The US Corporate Transparency Act was passed by Congress to increase corporate and business transparency of company ownership and thwart criminal activity that sometimes hides behind business walls. By requiring companies — even small ones — to disclose their beneficial owners to the Financial Crimes Enforcement Network (FinCEN), the Act aims to prevent criminal activity such as money laundering, fraud, and financing of terrorism. Businesses that started before January 1, 2024, have until January 1, 2025, to file the report.
Continue readingGet Your Business Recognized By The SBA
The US Small Business Administration (SBA) is accepting nominations for National Small Business Week Awards. The SBA recognizes the hard work, ingenuity, dedication, and economic contributions of small businesses during its annual National Small Business Week Celebration. The 2025 event takes place May 4 through 10, 2025, when at least 10 awards will be bestowed on New Mexico small businesses. The deadline to nominate your or someone else’s business is December 5, 2024.
Continue readingTwo Events for Women Entrepreneurs
The business development organization WESST is collaborating with New Mexico Manufacturing Extension Partnership (New Mexico MEP) to offer two events specifically geared for female business owners and women entrepreneurs. Visit WESST on October 25 to hear from three extraordinary women about how they built their businesses, and join the Women in Manufacturing Panel Discussion online on October 30 to learn about resources for women entrepreneurs. Both events are part of Manufacturing Day activities in New Mexico.
Continue readingReady to Work with Sandia National Labs?
Sandia National Laboratories and New Mexico Manufacturing Extension Partnership (MEP) are building an advanced manufacturing center and expanding New Mexico’s manufacturing ecosystem. Join both organizations at a luncheon on Thursday, October 24 to explore ways to partner with the labs.
Continue readingCalling All Artists
If you are an artist ready to embark on a journey of self-discovery and artistic growth, consider attending the Curiosity, Wonder, & Resilience webinar series offered by the business development organization WESST.
Continue readingMfg Day Supports Manufacturing Companies
October 4 is National Manufacturing Day 2024, and this year’s theme underscores the mission of this annual celebration. “See Yourself in Manufacturing” encourages students to envision well-paying careers that now include technology, design, AI, and boundless creativity. Mfg Day is celebrated the entire month of October in New Mexico, and while events are largely geared toward students, there is plenty for manufacturers and businesses with employees.
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