{"id":5932,"date":"1998-05-26T08:01:21","date_gmt":"1998-05-26T14:01:21","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/?p=5932"},"modified":"2026-04-11T13:36:23","modified_gmt":"2026-04-11T19:36:23","slug":"centex-corporation","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/1998\/05\/26\/centex-corporation\/","title":{"rendered":"Centex Corporation"},"content":{"rendered":"[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;section&#8221; _builder_version=&#8221;3.22&#8243;][et_pb_row admin_label=&#8221;row&#8221; _builder_version=&#8221;3.25&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text admin_label=&#8221;Text&#8221; _builder_version=&#8221;3.27.4&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][\/et_pb_text][et_pb_text _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<div class=\"blogDateTitleContainer\">\n<div class=\"blogDateTitle\">05\/26\/1998<\/div>\n<\/div>\n<div class=\"blogItem\">\n<p><a href=\"\/businesses\/wp-content\/uploads\/sites\/9\/2020\/11\/98-30__centez_corporation.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">98-30<\/a><\/p>\n<p>TP claimed a refund for an overpayment of corporate income taxes that were offset against a prior tax liability of penalty &amp; interest for late estimated payments. TP argued that the penalty &amp; interest was not due under the provisions of Section 3001(d) of the Revenue Reconciliation Act waiving penalties under IRC Section 6655. TP also argued that the department had no authority to offset their refund since the tax liability had not been assessed. Held that federal law does not govern imposition of penalty and interest under state law and that offset was authorized by Tax Administration Act. Protest denied.<\/p>\n<\/div>\n[\/et_pb_text][et_pb_text _builder_version=&#8221;4.6.6&#8243; _module_preset=&#8221;default&#8221;]<p><a href=\"\/all-nm-taxes\/tax-decisions-orders\/\">Back to Tax Decisions &amp; Orders<\/a><\/p>\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]","protected":false},"excerpt":{"rendered":"<p>05\/26\/1998 98-30 TP claimed a refund for an overpayment of corporate income taxes that were offset against a prior tax liability of penalty &amp; interest for late estimated payments. TP argued that the penalty &amp; interest was not due under the provisions of Section 3001(d) of the Revenue Reconciliation Act waiving penalties under IRC Section [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"<!-- wp:divi\/placeholder \/-->","_et_gb_content_width":"960","footnotes":""},"categories":[43],"tags":[],"class_list":["post-5932","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>Centex Corporation : 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\/1998\/05\/26\/centex-corporation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Centex Corporation : All NM Taxes\" \/>\n<meta property=\"og:description\" content=\"05\/26\/1998 98-30 TP claimed a refund for an overpayment of corporate income taxes that were offset against a prior tax liability of penalty &amp; interest for late estimated payments. 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