{"id":18090,"date":"2026-03-17T11:02:23","date_gmt":"2026-03-17T17:02:23","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/?p=18090"},"modified":"2026-04-11T13:19:31","modified_gmt":"2026-04-11T19:19:31","slug":"columbia-associates-inc","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2026\/03\/17\/columbia-associates-inc\/","title":{"rendered":"Columbia Associates, Inc"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; background_enable_image=&#8221;off&#8221; custom_padding=&#8221;0px||||false|false&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.27.6&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p><strong><a href=\"https:\/\/realfile.tax.newmexico.gov\/26-02_Columbia%20Associates%20Inc.pdf\" target=\"_blank\" rel=\"noopener\">26-02<\/a><\/strong><\/p>\n<p>The Department issued a corporate income tax return adjustment notice based on prior year returns, adjusting the net operating loss (NOL) deductions claimed on the taxpayer\u2019s 2021 amended return. The Department determined that the NOLs reported for closed tax years 2016-2018, and for tax year 2020 did not align with the NOL amounts previously reported by the taxpayer. The Taxpayer protested, asserting that the earlier NOLs on the 2020 return were miscalculated due to preparer error and the revised NOLs reported on the 2021 return should be accepted, and that the interest should be abated. The Hearing Officer concluded that the Department lacks statutory authority to revise NOL amounts for the closed tax years and lacks statutory authority for an abatement of interest. The protest was denied.<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>26-02 The Department issued a corporate income tax return adjustment notice based on prior year returns, adjusting the net operating loss (NOL) deductions claimed on the taxpayer\u2019s 2021 amended return. The Department determined that the NOLs reported for closed tax years 2016-2018, and for tax year 2020 did not align with the NOL amounts previously [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[43],"tags":[],"class_list":["post-18090","post","type-post","status-publish","format-standard","hentry","category-tax-decisions-orders"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Columbia Associates, Inc : All NM Taxes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2026\/03\/17\/columbia-associates-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Columbia Associates, Inc : All NM Taxes\" \/>\n<meta property=\"og:description\" content=\"26-02 The Department issued a corporate income tax return adjustment notice based on prior year returns, adjusting the net operating loss (NOL) deductions claimed on the taxpayer\u2019s 2021 amended return. 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