Section 7-1-67.1 – Repealed.
ANNOTATIONS Repeals. — Laws 1993, ch. 5, § 11, repealed 7-1-67.1 NMSA 1978, as enacted by Laws 1982, ch. 18, § 25, relating to the effective date of the increase in the interest rate pursuant to § 7-1-67 NMSA 1978, effective July 1, 1993. For provisions of former section, see the 1992 NMSA 1978 on […]
Section 7-1-68 – Interest on overpayments.
A. As provided in this section, interest shall be allowed and paid on the amount of tax overpaid by a person that is subsequently refunded or credited to that person. B. Interest on overpayments of tax shall accrue and be paid at the underpayment rate established pursuant to Section 6621 of the Internal Revenue Code, […]
Section 7-1-69 – Civil penalty for failure to pay tax or file a return.
A. Except as provided in Subsection C of this section, in the case of failure due to negligence or disregard of department rules and regulations, but without intent to evade or defeat a tax, to pay when due the amount of tax required to be paid, to pay in accordance with the provisions of Section […]
Section 7-1-69.1 – Civil penalty for failure to file an information return.
A taxpayer, wholesaler, retailer or rack operator who fails to file an information return on time pursuant to the Gasoline Tax Act [Chapter 7, Article 13 NMSA 1978] or the Special Fuels Supplier Tax Act [Chapter 7, Article 16A NMSA 1978] shall pay a penalty of fifty dollars ($50.00) for each late report. This penalty […]
Section 7-1-69.2 – Civil penalty for failure to correctly file certain deductions.
In the case of a taxpayer that deducts gross receipts pursuant to Section 7-9-92 or 7-9-93 NMSA 1978 instead of deducting or exempting gross receipts pursuant to another applicable provision of the Gross Receipts and Compensating Tax Act [Chapter 7, Article 9 NMSA 1978] as required by those sections, there shall be assessed a penalty […]
Section 7-1-57 – Surety bonds.
Surety bonds accepted by the secretary as security in compliance with the provisions of Sections 7-1-54 and 7-1-55 NMSA 1978 shall be payable to the state of New Mexico upon demand by the secretary or the secretary’s delegate and a showing to the surety that the principal debtor is a delinquent taxpayer. History: 1953 Comp., […]
Section 7-1-58 – Permanence of tax debt; civil actions to collect tax.
The total amount of all taxes due and assessed is a personal debt of the taxpayer to the state of New Mexico until paid and may be collected by civil action to that end commenced subject to the limitations in Section 7-1-19 NMSA 1978 by the secretary or attorney general in district court or in […]
Section 7-1-59 – Jeopardy assessments.
A. If the secretary at any time reasonably believes that the collection of any tax for which a taxpayer is liable will be jeopardized by delay, the secretary may immediately make a jeopardy assessment of the amount of tax the payment of which to the state the secretary believes to be in jeopardy. B. A […]
Section 7-1-60 – Estoppel against state.
In any proceeding pursuant to the provisions of the Tax Administration Act, the department shall be estopped from obtaining or withholding the relief requested if it is shown by the party adverse to the department that the party’s action or inaction complained of was in accordance with any regulation effective during the time the asserted […]
Section 7-1-61 – Duty of successor in business.
A. As used in Sections 7-1-61 through 7-1-63 NMSA 1978, “tax” means the amount of tax due, including penalties and interest, imposed by provisions of the taxes or tax acts set forth in Subsections A and B of Section 7-1-2 NMSA 1978, except the Income Tax Act. B. The tangible and intangible property used in […]