us-nm/stat
NMSA 1978, § 7-14-9.2 — Penalties for failure to submit report or to pay; interest
A.
Any person required to submit the report required by Subsection C of Section 7-
14-7.1 NMSA 1978 who does not file the report in the manner and by the date required
shall pay a penalty in an amount equal to five percent of the total amount of tax
suspended pursuant to Subsection A of Section 7-14-7.1 NMSA 1978 for vehicles
required to be included in the report.
B.
Any person required to pay any amount pursuant to Subsection D of Section 7-
14-7.1 NMSA 1978 who fails to pay the amount by the date required is liable for penalty
in an amount equal to the greater of five dollars ($5.00) or two percent per month or any
fraction of a month from the date the amount was due multiplied by the amount of tax
due but not paid, not to exceed a maximum of ten percent of the tax due but not paid.
C.
If any person required to pay any amount pursuant to Subsection D of Section 7-
14-7.1 NMSA 1978 fails to pay the amount by the date required, interest shall be paid to
the state on such amount in accordance with the provisions of Section 7-1-67 NMSA
1978.
Source: official text