New Mexico Administrative Code

A. "Qualifying entity" is a corporation, limited liability company, partnership, joint venture, syndicate, or association that is an economic-base employer, also referred to as "company" as defined in Subsection L of Section 5-10-3 NMSA 1978. B. "Economic-base employer" is an emp…

A. Company eligibility: Companies that increase the economic base of New Mexico are eligible to be considered for LEDA funds. The company must manufacture a product in New Mexico or provide a non-retail service with at least fifty percent of total revenues generated from a client…

A. Economic development department role: The economic development department determines company and project eligibility through initial project data intake and vetting prior to invitation to formally apply for LEDA investment funds. Due diligence is conducted throughout the appli…

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630.

A. The secretary may delegate authority only when specifically authorized to do so in the Tax Administration Act. Where the words "or secretary's delegate" or "or delegate" do not appear in any section, only the secretary may act. B. Example: As provided in Subsection 7-1-4 B NMS…

A delegation of authority by the secretary to an "employee of the division" or "an employee of the department" as that term is defined in Section 7-1-3 NMSA 1978 is not required to be in writing.

The following persons shall, for purposes of the Tax Administration Act, be considered to be "employees of the department" when acting as agents or authorized to represent or perform services for the department: A. the secretary of the department or an employee of the department …

A person who fits the definition of "taxpayer" under the provisions of Section 7-1-3 NMSA 1978 but who has not registered or been identified under provisions of Section 7-1-12 NMSA 1978 is nonetheless a "taxpayer" subject to the provisions of the Tax Administration Act.

To establish or determine the liability of any taxpayer, to collect any tax or to enforce any statute administered by the department under the Tax Administration Act, the secretary or delegate is authorized to examine and require the production of any pertinent records, books, in…

A. TAXPAYER IDENTIFICATION: (1) The secretary shall cause to be developed and maintained multiple systems for the registration and identification of taxpayers who are subject to taxes or tax acts listed in Section 7-1-2 NMSA 1978 and taxpayers shall comply therewith. The systems …

A. The term "tax" as it is used in Section 7-1-18 NMSA 1978 means the amount of any tax imposed and required to be paid or collected and paid over by any tax act made subject to administration and enforcement under the Tax Administration Act pursuant to the provisions of Section …

As used in Section 7-1-19 NMSA 1978, the term "action or proceeding" means any effort initiated by the secretary or secretary's delegate under the provisions of the Tax Administration Act and shall include the filing of a lien, seizure of property through service of a warrant of …

Every tax return preparer, as that term is defined in Section 7-1-3 NMSA 1978, shall furnish that preparer's identification number with, and sign, each income tax return or claim of refund with respect to income tax that the preparer completes. For the purposes of 3.1.1.18 NMAC, …

This part applies to all taxpayers, their agents and representatives and all persons required to submit a return or information to the taxation and revenue department under any tax, tax act or other law administered and enforced pursuant to the Tax Administration Act.

Section 9-11-6.2 NMSA 1978.

Permanent.

10/31/96, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Tax Administration Act.

As used in Section 7-1-71.1 NMSA 1978 and Section 3.1.1.18 NMAC the term "sign" means to affix a name or cause it to be attached using one of the following methods: A. handwritten; B. rubber stamp; C. mechanical device (such as a mechanical pen); D. computer software program; or …

All statutory references in Chapter 3.1 NMAC are to the New Mexico Statutes Annotated 1978 (NMSA 1978) unless otherwise specified.

A. The municipal and county tax acts listed below, as they now exist or may hereafter be amended, shall be interpreted, administered and enforced by the secretary under the provisions of the Tax Administration Act. B. All directives of the secretary shall apply to the administrat…

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630

The secretary or secretary's delegate is authorized by Section 7-1-52 NMSA 1978 to release all or any part of property levied upon under the following conditions: A. the release of levy will cause the collection of the taxes to be facilitated; and B. the interests of the state wi…

The secretary has statutory authority to apply to a district court of New Mexico to have any delinquent taxpayer or other person who may be or may become liable for any tax enjoined from engaging in business in the state. The following examples illustrate some, but not all, situa…

Persons who are subject to an impending injunction action by the secretary may take any of the following actions to avoid an injunction: A. pay the assessed tax and, if applicable, submit a claim for refund pursuant to Section 7-1-26 NMSA 1978; B. furnish acceptable security as p…

A. When the secretary or secretary's delegate believes that it is necessary to ensure payment of any tax due, or reasonably expected to become due, the secretary or secretary's delegate may require or allow a person subject to the Tax Administration Act to furnish acceptable secu…

The secretary will accept only those surety bonds underwritten by a company qualified to do business in New Mexico.

A. LIMITATION ON ACTIONS TO COLLECT TAX DEBT: Pursuant to the provisions of Section 7-1-19 NMSA 1978, the secretary or attorney general may not bring an action or proceeding to collect taxes after ten years from the date of the assessment of taxes. B. INTEREST ASSESSED FOR PRIOR …

A. The following indicia are used by the secretary or secretary's delegate as factors in determining whether a business is a successor: (1) Has a sale and purchase of a major part of the materials, supplies, equipment, merchandise or other inventory of a business enterprise occur…

(Reserved.)

A. INTEREST: (1) Interest on the unpaid portion of a tax indebtedness is due to the State of New Mexico at the rate of 15% per year computed on a daily basis for amounts due on or after January 1, 2001. The daily rate will be determined by dividing the annual rate by 365 or 366 a…

(Reserved.)

This part applies to all taxpayers, their agents and representatives and all persons required to submit a return or information to the taxation and revenue department under any tax, tax act or other law administered and enforced pursuant to the Tax Administration Act.

Section 9-11-6.2 NMSA 1978.

Permanent.

10/31/96, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Tax Administration Act.

[Reserved.]

A levy on real property is made by personal service of a copy of the warrant of levy on the taxpayer-owner of the property, and by recording a copy of the levy in the county in which the property is located. The secretary or delegate shall make every reasonable effort to send not…

A. If a warrant of levy is served upon a financial institution in New Mexico, the financial institution must survey all checking accounts, savings accounts, escrows for collection, safety deposit boxes, trusts, certificates of deposit and all other accounts or places in which it …

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630

Taxpayer "negligence" under Subsection 7-1-69 A NMSA 1978 means: A. failure to exercise that degree of ordinary business care and prudence which reasonable taxpayers would exercise under like circumstances; B. inaction by taxpayers where action is required; C. inadvertance, indif…

The following situations may indicate that a taxpayer has not been negligent or in disregard of rules and regulations and the secretary will consider these circumstances in deciding whether to assess civil penalty as provided by Section 7-1-69 NMSA 1978, or whether to abate asses…

If a taxpayer does not file a return on the date on which payment of tax is due, as required by Subsection 7-1-13 B NMSA 1978, the minimum penalty of $5.00 imposed by Section 7-1-69 NMSA 1978 will apply only once per return, regardless of the number of tax programs included in th…

When a taxpayer files a return with intent to defraud the state by making a claim for a tax credit or rebate, and no amount of tax is required to be paid on the return, the provisions of Section 7-1-69 NMSA 1978 will not apply. Nothing in Section 3.1.11.13 NMAC, however, shall be…

A. Penalty with respect to the unpaid portion of a tax indebtedness or with respect to the failure to file a return by the date required is due to the state of New Mexico when the tax indebtedness is owed by any agency, institution, instrumentality or political subdivision of the…

Penalty for failing to file a required return or, if tax is due, to pay tax by an extended due date will be computed beginning with the first day following the extended due date.