A significant task for the new business owner is assuring that the business is properly complying with the extensive tax and information filing requirements imposed by various governmental agencies. Stiff penalties are commonly assessed if the required forms and returns are not properly prepared and timely filed. There are several forms required to be filed when the business is started. While this chapter is not intended to be an all-inclusive list of the filing requirements, it summarizes some of the more prominent requirements common to most businesses. Many industries (such as construction and lodging) have specific filing requirements which are not part of this text, but which nevertheless, must not be overlooked. Professionals with experience in your industry should be consulted to assure that any such filings are properly handled.

Internal Revenue Service

All tax forms filed with the Internal Revenue Service require the use of a Federal Employer Identification Number (FEIN). This number is obtained by filing a Form SS-4 with the Internal Revenue Service. A new business that is a corporation, a partnership, or an LLC should file a Form SS-4. A sole proprietorship is not required to use a FEIN (other than the owner’s own social security number) unless it has one or more employees. In such case, a FEIN is also required. An example of Form SS-4 with instructions follows this section.

There is no deadline for filing Form SS-4. However, to avoid confusion, file your Form SS-4 early. If an income tax form is filed without an FEIN, the Internal Revenue Service will assign one. It is not uncommon for the Internal Revenue Service to assign more than one FEIN to a business, which can result in notices for delinquent tax returns that have been filed using a second FEIN.

See page 2-7 for SS-4 detailed filing instructions.

Most filings with the Internal Revenue Service come under the headings of income and payroll taxes. Payroll tax requirements are detailed in Chapter Four. Income tax filing requirements and tax planning are discussed in Chapter Six.

Business Registration

State of New Mexico business forms are obtainable from Taxation and Revenue Department, PO Box 5374, 1200 South St. Francis Dr., Santa Fe, NM 87502, (505) 827-0700.

NM Form ACD-31015: State of New Mexico, Application for Business Tax Identification Number. You must have a New Mexico Business Tax ID (known as a "CRS number") before applying for the Town or County business registration license (sometimes called an occupational license).

NM Form ACD-31075. State of New Mexico, Registration Update. This form must be filed when you make any material change such as the firm's name, address, location, type of activity, starting date, or reinstate or cancel an ID number.

NM Form ACD-31096: State of New Mexico, Tax Clearance Request. Any purchaser or lessee of all or part of an existing business enterprise may request a tax clearance on this form. Failure to request a tax clearance could subject the purchaser or lessee to liability for any taxes incurred and not paid by the seller or lessor prior to the date of transfer.

NM Form ES-802: New Mexico Department of Labor, Employment Security Division, Status Report. This form, relating to unemployment insurance, is obtained from the New Mexico Department of Labor, Employment Security Division, P.O. Box 2281, Albuquerque, NM 87103, (505) 841-8576 or from the New Mexico Department of Labor, 1036 Salazar Rd., Taos, NM 87571, (575) 758-4219.

Taos County: Application for Business Registration. This form is obtained from the Taos County Clerk, Taos County Courthouse, 105 Albright, Taos, NM 87571, (575) 758-8836. If you will be doing business within the Town limits, this form will not be required. Complete the Town of Taos Application for Business Registration License instead.

Town of Taos: Business License Application. This form is obtained from the Town Planning & Zoning Dept., Town of Taos, 400 Camino de la Placita, Taos, NM 87571, (575) 751-2016. If you will be doing business within Taos County outside the town limits, this form will not be required. Complete the Taos County Application for Business Registration instead.

Town of Taos: Sign Permit Application. This form is also obtained from the Planning & Zoning Dept. (see above).

Examples of most of these forms follow this section.

Tax Calendar

The following summarizes some of the more significant filing dates for a business enterprise using a calendar year-end. Naturally, if a year-end other than December 31 is used (see Chapter Five), some of these dates will vary.

Due Date	Return
The 25th of each month	Gross Receipts and State Withholding, Form CRS-1
January 31	Annual and Quarterly Payroll Tax Returns, incl. W-2's and 1099's
February 28	Copies of W-2's & 1099's sent to Social Security. Admin.
March 15	Corporate Income Tax Return, Form 1120 or 1120S
April 15	Partnership Income Return, Form 1065 (used also for LLCs) Individual Income Tax Return, Form 1040 Estimated Income Tax Payments
April 30	Quarterly Payroll Tax Returns
June 15	Estimated Income Tax Payments
July 31	Quarterly Payroll Tax Returns
September 15	Estimated Income Tax Payments
October 31	Quarterly Payroll Tax Returns
November — December	Year-end Tax Planning
December 15	Estimated Corporate Income Tax Payment
January 15	Last Estimated Individual Income Tax Payments for the Previous Year