reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 2 - PROMULGATION OF REGULATIONS › Section 3.1.2.11 - SECRETARY MAY DESIGNATE REPORTING REQUIREMENTS OF SOME RECEIPTS

Current through Register Vol. 35, No. 13, July 16, 2024
The secretary may require receipts from sales that occur on
				  the tribal land of a pueblo or tribe that has entered into a gross receipts tax
				  cooperative agreement with the state of New Mexico pursuant to Section
				  9-11-12.1
				  NMSA 1978 to be reported as located on tribal land regardless of where the
				  taxpayer's place of business is maintained.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 3 - DISCLOSURE OF TAXPAYER INFORMATION › Section 3.1.3.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 3 - DISCLOSURE OF TAXPAYER INFORMATION › Section 3.1.3.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
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.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 3 - DISCLOSURE OF TAXPAYER INFORMATION › Section 3.1.3.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
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.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 3 - DISCLOSURE OF TAXPAYER INFORMATION › Section 3.1.3.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to interpret, exemplify,
				  implement and enforce the provisions of the Tax Administration
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 3 - DISCLOSURE OF TAXPAYER INFORMATION › Section 3.1.3.8 - STATE WARRANTS FOR PAYMENT OF TAX REFUNDS AND TAX REBATES

Current through Register Vol. 35, No. 13, July 16, 2024
A. Generally, information contained on a
				state warrant issued in response to a tax return submitted by a taxpayer,
				including electronic data processing records relative to the warrant, is
				confidential information for purposes of Section
				7-1-8
				NMSA 1978. Warrants issued in response to a claim for a refund, the record of
				which is required to be available for public inspection under Section
				7-1-29
				NMSA 1978, are not confidential information.
B. Example: A loan company requests from an
				employee of the department the mailing address of a taxpayer and the dollar
				amount of a state warrant which was processed as a refund or rebate from an
				income tax return. The information requested was derived from information
				contained in the return of a taxpayer, and it is unlawful for the employee to
				reveal this information.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 3 - DISCLOSURE OF TAXPAYER INFORMATION › Section 3.1.3.9 - RECIPROCAL AGREEMENTS WITH OTHER STATES OR TRIBES

Current through Register Vol. 35, No. 13, July 16, 2024
The secretary shall retain all reciprocal
				  exchange-of-information agreements between the department and the authorized
				  representatives of other states or of Indian nations, tribes or pueblos which
				  permit designated employees of the department to reveal to the receiving state
				  or Indian nation, tribe or pueblo, for tax purposes only, information contained
				  in the return of a taxpayer or other information about a
				  taxpayer.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 3 - DISCLOSURE OF TAXPAYER INFORMATION › Section 3.1.3.10 - RECIPROCAL AGREEMENT - UNITED STATES SECRETARY OF THE TREASURY'S AUTHORIZED REPRESENTATIVE

Current through Register Vol. 35, No. 13, July 16, 2024
A. The secretary shall maintain a permanent
				record of the reciprocal agreement between the department and the
				representative of the secretary of the treasury for exchange of tax
				information. The proper representative of the secretary of the treasury shall
				be identified in the reciprocal agreement with the department. Identification
				of proper representatives may be made by job title or job
				description.
B. Example: A
				representative of the United States treasury department's alcohol, tobacco and
				firearms bureau (ATFB) requests from a department employee information
				contained in the return of a taxpayer. The representative explains that the
				organization is a branch of the treasury department, and the tax information
				requested will aid the state of New Mexico in collecting more tobacco taxes.
				Since the ATFB of the treasury department is not the authorized representative
				of the secretary of the treasury under a reciprocal agreement, it is unlawful
				for any employee of the department to fulfill the ATFB representative's
				request.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 3 - DISCLOSURE OF TAXPAYER INFORMATION › Section 3.1.3.11 - TAXPAYER "WAIVER" OF CONFIDENTIALITY

Current through Register Vol. 35, No. 13, July 16, 2024
A. For the purpose of Section
				7-1-8
				NMSA 1978, and except as provided in Subsection
				7-1-24
				E NMSA 1978 for a taxpayer request for an administrative hearing to be open to
				the public, there is no provision in the Tax Administration Act for a taxpayer
				to "waive" the provisions of Section
				7-1-8
				NMSA 1978 as applied to an employee or former employee of the department. The
				provisions of Section
				7-1-8
				NMSA 1978 and the punitive provisions of Section
				7-1-76
				NMSA 1978 are imposed on an employee or former employee and cannot be released
				by a taxpayer. The secretary will not accept or approve a purported "waiver" of
				confidentiality under Section
				7-1-8
				NMSA 1978 from taxpayers who attempt to make lawful that which is unlawful for
				employees and former employees of the department.
B. Example: A taxpayer and the taxpayer's
				attorney attend an informal conference with the secretary and department
				attorneys to discuss the tax consequences of the taxpayer's activities as a
				seller of tangible personal property in New Mexico. The taxpayer's attorney
				announces that a buyer (who is also a taxpayer) of the client's property has no
				objections to information from the buyer's tax returns being revealed by the
				secretary to those present in the conference. The attorney, although not
				representing the buyer, has a signed letter from the buyer "waiving"
				confidentiality of information in the buyer's returns which are in the
				possession of the department. This "waiver" does not make it lawful for the
				secretary or any other department employee to act upon this request by
				revealing the buyer's tax records or to give any information about the buyer
				acquired as a result of employment by the department. The buyer can obtain the
				information from the department and make any use of it the buyer deems proper.
				Or, in the alternative, the buyer could appoint the attorney in question the
				buyer's "authorized representative" to receive this information.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 3 - DISCLOSURE OF TAXPAYER INFORMATION › Section 3.1.3.12 - DISCLOSURE OF TAX INFORMATION TO A COURT

Current through Register Vol. 35, No. 13, July 16, 2024
A. The exception in Subsection
				7-1-8
				D NMSA 1978, permitting disclosure in response to an order of a district court,
				an appellate court or a federal court, shall be restricted to those actions:
(1) relating to taxes, where the state is a
				party and where the information sought is material to the inquiry;
(2) where the department is attempting to
				collect a tax; or
(3) where the
				taxpayer has put the taxpayer's own tax liability at issue.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 3 - DISCLOSURE OF TAXPAYER INFORMATION › Section 3.1.3.13 - AUTHORIZED REPRESENTATIVE

Current through Register Vol. 35, No. 13, July 16, 2024
A. The authorization of any person to be a
				representative of a taxpayer must be in writing, must contain sufficient
				information for the department to identify the taxpayer and the representative
				and must be signed by the taxpayer. The authorization must be in a form
				prescribed by the department, and renewed at an interval set by the
				department.
B. Upon presentation of
				a proper authorization from a taxpayer's representative, the secretary or
				employee may reveal information concerning the taxpayer and the taxpayer's
				return. If, however, the adversarial position of the representative or some
				change of circumstance in the relationship between the taxpayer and the
				taxpayer's authorized representative leads the secretary or employee to
				question the continued validity of the authorization, the secretary or employee
				may inquire of the taxpayer whether the authorization remains valid. A taxpayer
				may revoke an authorization of a person to be the taxpayer's representative by
				filing a document with the department so stating.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 3 - DISCLOSURE OF TAXPAYER INFORMATION › Section 3.1.3.14 - BANKRUPTCY

Current through Register Vol. 35, No. 13, July 16, 2024
A. Whenever an
				order for relief is entered under Title 11 of the United States Code with
				respect to a taxpayer, the taxpayer shall be deemed to have put his liability
				for taxes at issue and the department shall be deemed to be a party to the
				bankruptcy proceeding. The bankruptcy court may enter an order allowing any
				other party in the bankruptcy case to obtain information from the department
				regarding the debtor-taxpayer upon the party showing relevance and need for the
				information. The department may release information pursuant to such an
				order.
B. The bankruptcy trustee
				serving in the case in which the taxpayer is the debtor, the United States
				trustee and any court-appointed examiner or liquidating agent in a Chapter 11
				case will be deemed the taxpayer's authorized representative. The department
				may release information concerning the taxpayer and the taxpayer's tax
				liabilities to such a representative.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
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.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
July 7, 2021, unless a later date is cited at the end of a
				  section, in which case the later date is the effective date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
As used in 3.1.4 NMAC, "CRS liability" means the total of
				  state gross receipts tax due for a period plus the amounts due for the same
				  period for all other taxes collected with the state gross receipts tax, such as
				  local option gross receipts taxes, governmental gross receipts tax, leased
				  vehicle gross receipts tax, leased vehicle surcharge, compensating tax and
				  withholding tax.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.8 - FILING RETURNS - FORMS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Information concerning the method of completing and filing a return, the filing
				date and the due date for paying taxes administered by the department may be
				found under the specific tax statutes, the secretary's regulations thereunder,
				on the prescribed forms and on the instructions accompanying the forms. Returns
				are considered complete and timely filed when the requirements of these
				documents, including requirements on obtaining extensions of time to file, are
				complied with by taxpayers.
B.
				Copies of return forms and instructions will be furnished by the department to
				taxpayers and to those persons filing returns for the purpose of securing
				refunds and rebates. The failure to receive a return form, however, does not
				relieve taxpayers from their duty to report and pay taxes. The forms and
				instructions may be obtained from the department and from district
				offices.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.9 - THE REQUIREMENT OF A CORRECT MAILING ADDRESS

Current through Register Vol. 35, No. 13, July 16, 2024
A. All notices, returns or applications
				required to be made by the taxpayer must include the correct mailing address of
				the taxpayer and the taxpayer must promptly advise the department in writing of
				any change in mailing address. If the department has prescribed a form or
				format for reporting a change of address, the form or format must be followed
				provided that, if the required information is contained in a change of address
				form or notice of the United States postal service, the United States postal
				service change of address form or notice may be used in lieu of the department
				form.
B. If a taxpayer notifies the
				United States postal service of a change in the taxpayer's mailing address and
				this information is given by the United States postal service to the department
				either voluntarily or upon the department's request, the taxpayer shall have
				fulfilled the taxpayer's obligation to notify the department of a change in
				mailing address. Unless the taxpayer specifically notifies the department that
				the change of mailing address does not apply to mailings from the department to
				the taxpayer, the notice by the taxpayer to the United States postal service of
				a change in the taxpayer's mailing address and given by the United States
				postal service to the department applies to mailings from the
				department.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.10 - DUE DATES AND TIMELINESS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
FILING RETURNS - DUE DATE:
A taxpayer becomes liable for tax as
				soon as the taxable event occurs; payment is not due, however, until on and
				after the date established by tax acts for the payment of tax. The statutory
				words "and after" used in the preceding sentence mean that taxes remain due
				until paid. A taxpayer becomes liable for interest if the tax is not paid when
				it becomes due. If the tax is not paid when it becomes due or if a report is
				not filed when due because of negligence of the taxpayer or taxpayer's
				representative, the taxpayer will also become liable for penalty. The fact that
				a taxpayer has not registered as a taxpayer is not material to the taxpayer's
				liability for payment of tax.
B.
TIMELINESS OF ELECTRONIC TRANSMISSIONS
:
(1) Notices, returns and applications
				authorized or required to be made or given by electronic transmission, are
				timely if the notice, return or application is electronically transmitted to
				the department and accepted on or before the last date prescribed for filing
				the notice, return or application. Accordingly, the sender who relies upon the
				applicability of Section
				7-1-13
				NMSA 1978 assumes the responsibility to provide the department proof that the
				electronic transmission to the department was initiated on or before the last
				date prescribed for filing the notice, return or application.
(2) Returns required by regulation or statute
				to be filed electronically shall not be considered filed until filed
				electronically if filed by any means other than as specified in that regulation
				or statute unless the taxpayer receives an exception or waiver to electronic
				filing in writing from the department, and taxpayer will be subject to
				penalties under Section
				7-1-69
				NMSA 1978 for a late filed return until an electronic return is
				filed.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.11 - SEMIANNUAL OR QUARTERLY FILING

Current through Register Vol. 35, No. 13, July 16, 2024
A.
SEMIANNUAL OR QUARTERLY REPORTING -
				RESOURCES EXCISE AND SEVERANCE TAXES:
(1) Persons who are liable for reporting
				taxes under the Resources Excise Tax Act (Sections
				7-25-1 to
				7-25-9 NMSA
				1978) or the Severance Tax Act (Sections
				7-26-1 to
				7-26-8
				NMSA 1978) and whose anticipated aggregate tax liability for both of these
				taxes is less than $200 a month may report and pay these taxes at quarterly or
				semiannual intervals if the taxpayer applies for and obtains the prior approval
				of the secretary or secretary's delegate. The semiannual reporting and payment
				intervals shall be only for the periods of January through June and July
				through December of any calendar year and the quarterly intervals shall be only
				for the three-month periods ending March 31, June 30, September 30 and December
				31 of any calendar year.
(2) The
				taxpayer may not change from one reporting interval to another without the
				prior written approval of the secretary or secretary's delegate.
(3) As a condition of approving semiannual or
				quarterly reporting, the secretary may require the posting of a surety bond or
				other acceptable security in an appropriate amount payable to the state of New
				Mexico guaranteeing payment to the state of New Mexico of the taxpayer's tax
				liability under the Resources Excise Tax Act or Severance Tax Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.12 - EXTENSIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
GOOD CAUSE
				FOR EXTENSIONS:
(1) "Good cause" for
				which the secretary or secretary's delegate may grant extensions is construed
				strictly. Such extensions for no more than a total of 12 months will be granted
				only in situations in which the taxpayer shows a good faith effort to comply
				with the statute.
(2) Example 1: If
				the taxpayer operates a multistate business and the filing of returns for New
				Mexico taxes at the statutory due date would cause the taxpayer unreasonable
				bookwork and recordkeeping, an extension will be given favorable consideration
				by the secretary or secretary's delegate.
(3) Example 2: If the taxpayer is temporarily
				disabled because of injury or prolonged illness and the taxpayer can show that
				the taxpayer is unable to procure the services of a person to complete the
				taxpayer's return, an extension will be given favorable
				consideration.
(4) Example 3: If
				the conduct of the taxpayer's business has been substantially impaired due to
				the disability of a principal officer of the taxpayer, physical damage to the
				taxpayer's business or other similar impairments to the conduct of the
				taxpayer's business causing the taxpayer an inability to compute taxes before
				the due date, an extension of time will be given favorable
				consideration.
(5) Example 4: If
				the taxpayer's accountant has suddenly died or has become disabled and unable
				to perform services for the taxpayer and the taxpayer can show that the
				taxpayer is unable either to complete the return or to procure the services of
				a person to complete the return before the due date, an extension will be given
				favorable consideration.
(6)
				Example 5: If the taxpayer is awaiting the outcome of a court or administrative
				proceeding or the action of the internal revenue service on a federal tax
				claim, an extension will be given favorable consideration provided that the
				extension does not contravene the time limits established by this statute or
				other New Mexico or federal statute.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.14 - PRESCRIBED FORMAT OF NON-PAPER RETURNS MUST BE FOLLOWED

Current through Register Vol. 35, No. 13, July 16, 2024
Whenever the secretary permits or requires returns to be
				  filed electronically or in electromagnetic media, such as tapes or disks, the
				  return information must be in the format prescribed by the department. Failure
				  to follow the prescribed format may result in non-acceptance of an attempted
				  filing. If a return is not accepted because of formatting errors and
				  re-submission of the return occurs after the due date, the return has not been
				  timely filed.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.15 - REPORTING PERIOD - PERMISSION REQUIRED FOR USE OF NON-STANDARD "MONTH"

Current through Register Vol. 35, No. 13, July 16, 2024
For purposes of reporting taxes due on a monthly basis, the
				  reporting period is a calendar month unless the taxpayer has obtained the
				  secretary's permission to use another period, such as reporting based on
				  standardized calendar quarters of 4 weeks, 4 weeks and 5 weeks or thirteen
				  months of 4 weeks. Because of complications introduced by deviations from the
				  calendar month reporting, the secretary may require substantial justification
				  before approving any significant departure from the calendar month reporting
				  cycle.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.16 - PRIVATE DELIVERY SERVICE POSTMARKS

Current through Register Vol. 35, No. 13, July 16, 2024
Delivery to a private delivery service designated by the
				  secretary of the treasury under 26 USCA 7502 during the time the designation is
				  in effect will be considered a timely mailing for purposes of the Tax
				  Administration Act if the date recorded or marked by the private delivery
				  service is on or before the date by which mailing is required. Section 3.1.4.16
				  NMAC applies to deliveries to a designated private delivery service after June
				  30, 1999.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.17 - APPROVED ELECTRONIC MEDIA

Current through Register Vol. 35, No. 13, July 16, 2024
Department approved electronic media includes an electronic
				  transmission of the personal income tax return data submitted in an approved
				  format using a computer language designated by the
				  department.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 4 - FILING › Section 3.1.4.18 - ELECTRONIC FILING

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				This regulation is adopted pursuant to the secretary's authority in Section
				9-11-6.4
				NMSA 1978.
B. The secretary or
				secretary delegate will publish on the department's public website a full list
				of all tax programs that have an electronic filing or payment mandate. This
				website will also include information on how to obtain an electronic filing or
				payment exception or waiver.
C.
				Once a taxpayer is required to file returns or make payments electronically
				pursuant to this regulation, the taxpayer may not file future returns or make
				future payments by mail or any method other than electronically unless they
				receive an exception or waiver. An exception or a waiver may be granted if the
				taxpayer has shown a good faith attempt to comply with the electronic filing
				and payment requirements but is unable to do so due to a reason listed in
				Subsections D or E below. If a taxpayer is granted an exception or, the
				taxpayer must file a paper return and make a payment by the due date unless an
				extension pursuant to
				3.1.4.12 NMAC has been
				granted. If a return is not filed and a payment is not made timely, interest
				will be due, and penalty may be due.
D. A taxpayer may request in writing an
				exception to the requirement of electronic filing or making electronic payments
				for a year at a time. The request must be on the form prescribed by the
				department and must be received by the department at least 30 days before the
				taxpayer's electronic return or payment is due. An exception may be granted for
				the following reasons.
(1) if the taxpayer
				shows a hardship including but not limited to no reasonable access to internet
				in the taxpayer's community;
(2) if
				the taxpayer does not have reasonable access to a computer or technology
				required to electronically file;
(3) if the taxpayer does not have the
				knowledge or expertise to file a return electronically; or
(4) if the taxpayer is unable to utilize
				technology or the internet for religious reasons.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 5 - RECORDS › Section 3.1.5.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 5 - RECORDS › Section 3.1.5.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
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.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 5 - RECORDS › Section 3.1.5.8 - SUFFICIENCY OF RECORDS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Books of account, documents and other records shall be kept and maintained by a
				taxpayer in a manner that will permit the accurate computation of state taxes
				and provide information required by the statutes under which the taxpayer is
				required to keep records. The Tax Administration Act sets no time requirement
				for taxpayer retention of books of account or other records but Section
				7-1-18
				NMSA 1978 sets the statute of limitations for the assessing of tax asserted to
				be due. If state taxes cannot be accurately or readily computed by the
				secretary or secretary's delegate from the records, the records are not
				sufficient or adequate for the purpose of Section
				7-1-10
				NMSA 1978. The adequacy or inadequacy of taxpayer records is a matter of fact
				to be determined by the secretary or secretary's delegate. Taxpayers have a
				duty to provide the secretary or secretary's delegate, upon request, with books
				of account and other records upon which to establish a basis for
				taxation.
B. Failure of a taxpayer
				to keep adequate books of account or other records will cause the department to
				use alternative methods to determine or estimate taxes due.
C. Alternative methods which may be used by
				the department include, but are not limited to:
(1) bank deposit method;
(2) documents and records of persons other
				than the taxpayer;
(3) federal
				returns and other government reports;
(4) cost of sales markup -- weighted
				percentage;
(5) net worth
				analysis;
(6) industry comparison;
				and
(7) provisional assessment of
				taxes based on best available information and allowing for any increase which
				may have occurred due to inflation, increased economic activity or other
				reasons.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 5 - RECORDS › Section 3.1.5.9 - RECORDS RECONSTRUCTION

Current through Register Vol. 35, No. 13, July 16, 2024
A. The secretary or secretary's delegate is
				authorized to reconstruct records of a person to establish or determine the
				extent of tax liability. The nonexistence or inadequacy of the records, for
				whatever reason, is the pertinent fact permitting reconstruction.
B. Example: A taxpayer's records for one
				audit year were destroyed accidentally. The department auditor is permitted to
				use the bank deposit method to reconstruct sales and income for that
				year.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 5 - RECORDS › Section 3.1.5.10 - CONSISTENCY IN METHOD OF ACCOUNTING

Current through Register Vol. 35, No. 13, July 16, 2024
The method of accounting used by taxpayers for state tax
				  computation or for accumulating information required by state tax statutes
				  shall be consistent for the same business. There is no requirement that the
				  method of accounting for one type of state tax be the same method of accounting
				  for another type of state tax. For example, a taxpayer may account for and
				  report the taxpayer's gross receipts tax on the cash basis, while accounting
				  for and reporting the taxpayer's income tax on an accrual basis. But a taxpayer
				  may not account for and report January's gross receipts on the cash accounting
				  method, and then account for and report February's gross receipts on the
				  accrual accounting method without first securing the consent of the secretary
				  or secretary's delegate.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 5 - RECORDS › Section 3.1.5.11 - ACCOUNTING FOR GOVERNMENTAL GROSS RECEIPTS TAX

Current through Register Vol. 35, No. 13, July 16, 2024
Agencies, institutions, instrumentalities and political
				  subdivisions of the state of New Mexico which are subject to the governmental
				  gross receipts tax may treat different taxable activities as different lines of
				  business. Accordingly, one or more activities may be accounted for and reported
				  on a cash basis and one or more other activities may be accounted for and
				  reported on an accrual or modified accrual basis. Once the cash basis, accrual
				  or modified accrual basis has been selected as the method of accounting for and
				  reporting receipts from a particular activity, the activity must continue to be
				  accounted for and reported on the same basis in subsequent periods unless prior
				  permission is received from the department to change the method of accounting
				  or reporting.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 5 - RECORDS › Section 3.1.5.12 - RECORDS INCLUDE GOVERNMENTAL RETURNS, DOCUMENTS, REPORTS AND OTHER ATTACHMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
For the purpose of inspection or audit of taxpayers' records
				  and books of account by the secretary or secretary's delegate, "records" shall
				  include, but not be restricted to, all copies of returns or reports filed by
				  taxpayers with agencies of the federal government, agencies of the state of New
				  Mexico and agencies of any sovereign state or Indian nation, tribe or pueblo
				  located nationally or worldwide. Records shall include all returns, documents
				  and reports, as well as any attachments thereto, to any political subdivision
				  of any state.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 5 - RECORDS › Section 3.1.5.13 - ENFORCEMENT BY SUBPOENA

Current through Register Vol. 35, No. 13, July 16, 2024
The secretary may serve or cause to be served a subpoena
				  duces tecum upon a taxpayer or other person having custody of the taxpayer's
				  records and books of account.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 5 - RECORDS › Section 3.1.5.14 - REASONABLE HOURS

Current through Register Vol. 35, No. 13, July 16, 2024
Reasonable hours for taxpayers to make their records and
				  books of account available for inspection means any time during taxpayer's
				  business hours but not less than between the hours of 8:00 a.m. and 5:00 p.m.
				  of any day except Saturday, Sunday and state and federal
				  holidays.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 5 - RECORDS › Section 3.1.5.15 - RECORDKEEPING AND RETENTION REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
RECORDKEEPING REQUIREMENTS -
				DEFINITIONS:
For purposes of Section 3.1.5.15 NMAC, these terms shall be
				defined as follows:
(1) "Database management
				system" means a software system that controls, relates, retrieves and provides
				accessibility to data stored in a database.
(2) "Electronic data interchange" or "EDI
				technology" means the computer to computer exchange of business transactions in
				a standardized structured electronic format.
(3) "Hardcopy" means any documents, records,
				reports or other data printed on paper.
(4) "Machine-sensible record" means a
				collection of related information in an electronic format. Machine-sensible
				records do not include hardcopy records that are created or recorded on paper
				or stored in or by an imaging system such as microfilm, microfiche or
				storage-only imaging systems.
(5)
				"Storage-only imaging system" means a system of computer hardware and software
				that provides for the storage, retention and retrieval of documents originally
				created on paper. It does not include any system, or part of a system, that
				manipulates or processes any information or data contained on the document in
				any manner other than to reproduce the document in hardcopy or as an optical
				image.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 5 - RECORDS › Section 3.1.5.16 - TAXPAYER'S RECORDS IN POSSESSION OF ANOTHER

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  7-1-11
				  NMSA 1978 applies to records of a taxpayer in the possession, whether permanent
				  or temporary, of another person. Except for possessors who are banks, savings
				  and loan associations, credit unions or similar financial institutions, the
				  possessor is required to allow the inspection or audit by the department of the
				  records upon written request of the department just as if the records were in
				  the possession of the taxpayer. Failure of the possessor to allow inspection or
				  audit of the records by the department upon a reasonable request of the
				  department is a violation of Section
				  7-1-74
				  NMSA 1978. Requests by the department to inspect or audit records of a taxpayer
				  in the possession of a bank, savings and loan association, credit union or
				  similar financial institution will be made in accordance with Sections
				  14-7-1
				  and
				  14-7-2
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 6 - ASSESSMENT › Section 3.1.6.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 6 - ASSESSMENT › Section 3.1.6.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
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.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 6 - ASSESSMENT › Section 3.1.6.8 - PAYMENT OF UNPROTESTED AMOUNTS

Current through Register Vol. 35, No. 13, July 16, 2024
Any taxpayer who protests under the provisions of Section
				  7-1-24
				  NMSA 1978 only a portion of an assessment and either does not pay the portion
				  of the assessment not protested within 30 days after the date of assessment or
				  does not post security covering the unprotested amount pursuant to Section
				  7-1-54
				  NMSA 1978 shall be a delinquent taxpayer until the unprotested amount has been
				  paid or security covering the unprotested amount has been
				  posted.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 6 - ASSESSMENT › Section 3.1.6.10 - SELF-ASSESSMENT

Current through Register Vol. 35, No. 13, July 16, 2024
When a tax return has been submitted by a taxpayer and
				  received by the department, this self-assessment constitutes an effective
				  assessment under Section
				  7-1-17
				  NMSA 1978. Self-assessments by taxpayers are not, however, presumed to be
				  correct under Subsection
				  7-1-17
				  C NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 6 - ASSESSMENT › Section 3.1.6.11 - TAXPAYER'S REMEDIES

Current through Register Vol. 35, No. 13, July 16, 2024
The remedies available to taxpayers upon the delivery of
				  notice of assessment of taxes shall be included with the document entitled
				  "Notice of Assessment of Taxes".
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 6 - ASSESSMENT › Section 3.1.6.12 - PRESUMPTION OF CORRECTNESS OF ASSESSMENT

Current through Register Vol. 35, No. 13, July 16, 2024
A. Once a "Notice of Assessment of Taxes" has
				been mailed or personally delivered to a taxpayer, the statutory presumption of
				the correctness of the assessment will apply. The effect of the presumption of
				correctness is that the taxpayer has the burden of coming forward with some
				countervailing evidence tending to dispute the factual correctness of the
				assessment made by the secretary. Unsubstantiated statements that the
				assessment is incorrect cannot overcome the presumption of
				correctness.
B. The presumption
				exists even if the secretary has issued assessments using alternative methods
				of reconstruction of a tax or has estimated the tax.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 6 - ASSESSMENT › Section 3.1.6.13 - PRESUMPTION OF CORRECTNESS OF INTEREST AND PENALTY

Current through Register Vol. 35, No. 13, July 16, 2024
The presumption of correctness also applies to any interest
				  imposed under Section
				  7-1-67
				  NMSA 1978 and any penalty imposed under Section
				  7-1-69
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 6 - ASSESSMENT › Section 3.1.6.14 - SECRETARY'S GOOD FAITH DOUBT OF LIABILITY

Current through Register Vol. 35, No. 13, July 16, 2024
A. The secretary may compromise the assessed
				liability of a taxpayer by entering into a written closing agreement only if
				and when there is a good faith doubt as to the liability. The written agreement
				must adequately protect the interests of the state and be approved by the
				attorney general. The secretary may not compromise a taxpayer's liability
				because of the taxpayer's inability to pay. The secretary may not compromise a
				taxpayer's liability solely because of the threat of litigation or as an
				expedient means of disposing of a controversy unless the secretary has a good
				faith doubt as to the liability.
B.
				Each written closing agreement entered into by the secretary must address the
				factual aspects of the liability that has created a good faith doubt in the
				mind of the secretary. The specific periods of assessed liabilities must be
				detailed in the written agreement.
C. The burden is upon the taxpayer to
				convince the secretary that a good faith doubt exists by presenting evidence
				sufficient to overcome the presumption of correctness of an assessed liability.
				A written closing agreement is conclusive only as to liability covered by the
				agreement.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 6 - ASSESSMENT › Section 3.1.6.15 - CANCELLATION OF ASSESSMENT

Current through Register Vol. 35, No. 13, July 16, 2024
Pursuant to Section
				  7-1-17
				  NMSA 1978, a document denominated "Notice of Assessment of Taxes" is not
				  effective until mailed or delivered to the taxpayer. At any time before this
				  action occurs, an assessment document can be cancelled by the secretary or
				  secretary's delegate. A cancellation is an accounting process and is not an
				  abatement of an assessment as defined by Section
				  7-1-28
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 7 - PROTEST › Section 3.1.7.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe, NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 7 - PROTEST › Section 3.1.7.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
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.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 7 - PROTEST › Section 3.1.7.8 - TAXPAYER ELECTION OF REMEDIES

Current through Register Vol. 35, No. 13, July 16, 2024
A. The election provided for in Section
				7-1-23
				NMSA 1978 is made when a taxpayer files a timely protest to an assessment or
				makes a timely claim for refund with the department. The taxpayer may not
				withdraw a protest, pay the assessment and then claim a refund without
				permission from the secretary or delegate.
B. There is no provision in the Tax
				Administration Act for a taxpayer to "Pay Under Protest".
C. Example 1: A taxpayer files a timely
				protest to a notice of assessment of taxes. Prior to the time for the
				administrative hearing under Section
				7-1-24
				NMSA 1978, the taxpayer realizes that, if the taxpayer had paid the assessment
				and claimed a refund, under Section
				7-1-26
				NMSA 1978 after the denial by the secretary of the claim for refund the
				taxpayer would be able to commence a civil action in the district court instead
				of having an administrative hearing on the protest. The taxpayer therefore
				commences the civil action and asks that the administrative proceedings be
				discontinued. The secretary will move to dismiss the action brought in district
				court on the grounds that the taxpayer has made an election to pursue the
				administrative remedy by filing the protest and is, therefore, precluded by
				Section
				7-1-23
				NMSA 1978 from pursuing a district court action.
D. Example 2: A taxpayer writes a letter to
				the department objecting to paying an assessment. The taxpayer does not state
				in the letter the nature of the complaint or the affirmative relief requested,
				nor is the complaint received within 30 days of the date of the assessment by
				the secretary. The taxpayer has not filed a protest as provided by Section
				7-1-24
				NMSA 1978. The taxpayer still has the right, however, to pay the assessment and
				claim a refund. Any one of the three defects noted above in the taxpayer's
				written objection would disqualify the document from being a valid
				protest.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 7 - PROTEST › Section 3.1.7.9 - ACCEPTANCE OF PAYMENT OF ASSESSMENT AFTER PROTEST

Current through Register Vol. 35, No. 13, July 16, 2024
Tender by a taxpayer and acceptance by the secretary or
				  secretary's delegate of payment of a protested assessment prior to resolution
				  of the protest constitutes an agreement:
A. by the secretary to waive the taxpayer's
				election of remedies under Section
				7-1-23
				NMSA 1978 upon a resolution of the protest favorably to the taxpayer so as to
				permit the taxpayer to file a claim for refund for the portion of the protested
				assessment resolved in favor of the taxpayer; and
B. by the taxpayer to waive the accrual of
				interest on any refund arising from the portion of the protested assessment
				resolved in favor of the taxpayer.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 7 - PROTEST › Section 3.1.7.10 - DEFINITION OF "PROTEST" - PAYMENT OF UNPROTESTED AMOUNTS REQUIRED

Current through Register Vol. 35, No. 13, July 16, 2024
A. To be effective,
				a protest must be in writing, must be filed with the secretary within the time
				required and must the taxpayer, identify the tax or taxes involved, state the
				grounds for the taxpayer's protest and state the affirmative relief
				requested.
B. If a notice of
				assessment of taxes includes taxes due under more than one tax program, taxes
				assessed in that portion of the assessment not being disputed by a taxpayer are
				due and payable. The secretary may proceed to enforce collection of any tax
				which the taxpayer has not protested and which is otherwise delinquent within
				the meaning of Section
				7-1-16 NMSA
				1978.
C. Any purported protest
				which does not comply with the requirements of Section
				7-1-24
				NMSA 1978 will not be accepted as a "protest" within the meaning of Section
				7-1-24
				NMSA 1978. The secretary may require the taxpayer to state with greater
				particularity the nature and basis of a protest and the relief
				sought.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 1 - TAX ADMINISTRATION › Part 7 - PROTEST › Section 3.1.7.11 - TIME FOR PROTEST

Current through Register Vol. 35, No. 13, July 16, 2024
Ordinarily, a protest must be made by a taxpayer within 30
				  days of the date of mailing by the department of the notice of assessment, or
				  mailing or service upon the taxpayer of other notice or demand, or the date of
				  filing or mailing of a tax return. As provided in Section
				  7-1-24
				  NMSA 1978, the secretary may, in the secretary's discretion, grant an extension
				  of up to 60 days additional time to file a protest. Failure by a taxpayer to
				  file a protest within a maximum of 90 days is jurisdictional, and the secretary
				  is without authority to consider any protest filed after that
				  period.