In the case of failure due to negligence or disregard of rules and regulations of the commission, but without intent to defraud, to pay when due any amount of regulatory fee or supervisory fee required to be paid pursuant to the Professional Athletic Competition Act, there shall be added to the amount two percent per month or a fraction of a month from the date the fee was due or from the date the report was required to be filed, not to exceed ten percent of the fee due.
History: Laws 1980, ch. 90, § 28; 2005, ch. 346, § 6.
ANNOTATIONS
Delayed repeal. — For delayed repeal of this section, see 60-2A-30 NMSA 1978.
The 2005 amendment, effective June 17, 2005, changed “tax” to “regulatory fee and supervisory fee”.