10/02/2002 02-23 The Taxpayer is a Texas corporation with its principal office in Texas and two additional business locations in New Mexico. Following an audit, the Department assessed the Taxpayer for gross receipts and compensating taxes, plus penalty and interest,...
09/16/2002 02-20 In May 1996, Gerald Tabet started a construction business, which was operated as a sole proprietorship under the name Gecko Southwest Homes, Ltd. Mr. Tabet registered Gecko for payment of New Mexico CRS taxes and filed returns for a few months. Mr....
09/16/2002 02-22 The Taxpayer is registered with the Department for monthly payment of CRS taxes. In 1999, the Taxpayer switched its accounting software to accommodate growth in its business and insure the system would be Y2K compliant. The software change increased...
09/10/2002 02-21 In December 1999, the Department audited the Taxpayer for payment of IFTA and weight distance taxes for the period January 1997 through December 1999. Since the Taxpayer retained its accounting records for only six months, the Department had to use...
08/27/2002 02-19 The Taxpayer owns and operates five retail stores in New Mexico and is registered with the Department for payment of CRS taxes. Following an audit, the Department assessed the Taxpayer compensating tax, interest, and penalty for the time period...
08/14/2002 02-18 The Taxpayer is engaged in the construction business in New Mexico. In March 1998, the Department audited the Taxpayer and delivered a "60-day letter" notifying the Taxpayer that it must have possession of all NTTCs needed to support its deductions...
07/31/2002 02-17 The Taxpayer is a New Mexico business with a history of failing to file timely gross receipts tax returns. In October 1999, the Department audited the Taxpayer’s payment of gross receipts taxes for the period January 1996 through June 1999. When the...
07/18/2002 02-16 The Taxpayer is a commercial construction company that makes its monthly CRS tax payments by automated clearing house (ACH) transfer. The Taxpayer's payment of its October 2001 gross receipts tax was one day late due to its employees’ failure to...
06/17/2002 02-15 The Taxpayer is the estate of a New Mexico resident who died in September 1999. Following the decedent’s death, the personal representative discovered that an error in the administration of the estate of the decedent’s husband had created an...
06/03/2002 02-14 The Taxpayer is a New Mexico corporation with a fiscal year ending July 31st. Section 7-2A-9.1 NMSA 1978 requires every taxpayer to make quarterly estimated payments during any taxable year in which the Taxpayer’s corporate income tax liability can...