us-nm/stat
NMSA 1978, § 7-15-4 — Interest; penalties
A.
If any trip tax is not paid when due, interest shall be paid to the state on such
amount from the date on which the trip tax becomes due until it is paid. Interest shall be
due to the state at the rate of fifteen percent a year, computed at the rate of one and
one-quarter percent per month or any fraction thereof, except that, if the amount of
interest due at the time payment is made is less than one dollar ($1.00), then no interest
shall be due. Nothing in this subsection shall be construed to impose interest on interest
or interest on penalty.
B.
In the case of failure, due to negligence or disregard of rules and regulations, but
without intent to defraud, to pay when due any amount of trip tax required to be paid,
there shall be added to the amount as penalty two percent per month, or any fraction
thereof, from the date on which the trip tax becomes due until the time payment is
made, provided that the total penalty shall not exceed ten percent of the amount nor
shall it be less than a minimum of five dollars ($5.00).
C.
In the case of failure to pay when due any amount of trip tax required to be paid,
with intent to defraud the state, there shall be added to the amount fifty percent thereof
or a minimum of twenty-five dollars ($25.00), whichever is greater, as penalty.
Source: official text