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How does one start a new political party in the US?

I know lots of money and a lot of people that agree with you is needed, but what else does one need to make it a legitimate political party. I want to start a new one called the Common Sense Party, since it seems the major partys we have now don't have any.
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Elessar · 26-30, M
It's not creating one the problem, it's having one vote more than the 2nd most voted one.

In any case "common sense" is a stupid concept in politics. What's "common sense" is to a conservative may very well be the opposite of what "common sense" is to a progressive.