10/15/1998 98-54 The Taxpayer protested the Department's denial of a deduction claimed for receipts from a customer which had given the Taxpayer a nontaxable transaction certificate but the Taxpayer could not produce a copy of the certificate. The Taxpayer also...
10/01/1998 98-53 Taxpayer purchased a division of another New Mexico business without following the procedures outlined in the successor in business statutes, Sections 7-1-61 to 7-1-64 that require a purchaser to escrow a portion of the purchase proceeds for taxes and...
09/28/1998 98-52 Taxpayers were shareholders of two small, closely held family corporations. The Taxpayers performed all of the management functions for the corporations. The corporations had no other employees. The corporations reported the compensation to the...
09/25/1998 98-51 Taxpayer was notified of discrepancies between his federal Schedule C and NM gross receipts tax filing during a limited scope audit. Taxpayer was notified that he had 60 days to provide any NTTC’s or other documentation that would support any...
09/23/1998 98-50 TP protested the assessment of interest on late gross receipts tax payments. TP claimed that the Department should be estopped from assessing interest since the TP received erroneous advice from a Department employee as to when the payment of tax was...
09/15/1998 98-49 TP protested the manner in which the Department calculated interest on an assessment of corporation income tax. TP's original income tax returns showed overpayments of tax for the three tax years for which deficiencies were later assessed. TP's...
09/04/1998 98-48 Taxpayer was notified of a limited scope audit (C-SPAN) based on a discrepancy between the business income reported on his federal income tax return and the receipts reported to New Mexico. Taxpayer was notified that he had a 60-day period to provide...
09/03/1998 98-47 Taxpayer was denied a portion of a claim for refund attributable to a child day care credit. The Department determined that the Taxpayer was not gainfully employed or disabled during the months for which the credit was claimed as required in Section...
09/01/1998 98-45 Taxpayer granted to three hunters a non-exclusive right to go onto its ranch to hunt during the hunting periods designated by the state. Taxpayer did not pay gross receipts tax on the receipts from selling hunting access to its land. Taxpayer...
08/31/1998 98-46 Taxpayer protested the Department's determination that the Department's discretion to grant extensions of time to file a protest under Section 7-1-24(B) is limited to protests of assessments of tax or of other peremptory notices and demands. Held...