{"id":7159,"date":"2004-03-25T15:21:22","date_gmt":"2004-03-25T22:21:22","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/?p=7159"},"modified":"2026-04-11T13:34:41","modified_gmt":"2026-04-11T19:34:41","slug":"terry-r-linda-a-wolff","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2004\/03\/25\/terry-r-linda-a-wolff\/","title":{"rendered":"Terry R. &#038; Linda A. Wolff"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_row _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221;][et_pb_column _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221; type=&#8221;4_4&#8243;][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;]<\/p>\n<div class=\"blogDateTitleContainer\">\n<div class=\"blogDateTitle\">03\/25\/2004<\/div>\n<\/div>\n<div class=\"blogItem\">\n<p><a href=\"https:\/\/realfile.tax.newmexico.gov\/04-04__terry_wolff.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">04-04<\/a><\/p>\n<p>The taxpayer reported business income on Schedule C (Profit or Loss from Business) of his 1999 federal income tax return but did not report New Mexico gross receipts tax on this income. \u00a0In response to the Department\u2019s audit notice, the taxpayer established that some of his sales were made out-of-state. \u00a0The Department reduced the income subject to tax by that amount, and assessed the taxpayer for gross receipts tax, penalty, and interest on the balance of the business income reported on his Schedule C. \u00a0At the administrative hearing on the taxpayer\u2019s protest, the taxpayer produced a Form 1099-B evidencing 1999 stock sales of $11,832, and the Department\u2019s attorney stipulated that the Department would abate the gross receipts tax attributable to that amount. \u00a0The taxpayer also produced an NTTC to support a deduction of receipts from sales of tangible personal property for resale. \u00a0The hearing officer found that the NTTC was not issued by the right entity and was not of the right type to support the deduction claimed by the taxpayer. \u00a0The hearing officer also found that while the taxpayer had not provided any evidence to show that his receipts from the stock sales were reported on Schedule C, the Department was bound by its attorney\u2019s stipulation that tax on this amount would be abated. \u00a0The protest was granted in part and denied in part: \u00a0the Department was ordered to abate gross receipts tax, penalty, and interest on the taxpayer\u2019s 1999 capital gain; the taxpayer was found liable for the balance of tax, penalty and interest remaining after that adjustment.<\/p>\n<\/div>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.6.6&#8243; _module_preset=&#8221;default&#8221;]<\/p>\n<p><a href=\"\/all-nm-taxes\/tax-decisions-orders\/\">Back to Tax Decisions &amp; Orders<\/a><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>03\/25\/2004 04-04 The taxpayer reported business income on Schedule C (Profit or Loss from Business) of his 1999 federal income tax return but did not report New Mexico gross receipts tax on this income. \u00a0In response to the Department\u2019s audit notice, the taxpayer established that some of his sales were made out-of-state. \u00a0The Department reduced [&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":"","_et_gb_content_width":"","footnotes":""},"categories":[43],"tags":[],"class_list":["post-7159","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>Terry R. &amp; Linda A. Wolff : 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\/2004\/03\/25\/terry-r-linda-a-wolff\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terry R. &amp; Linda A. Wolff : All NM Taxes\" \/>\n<meta property=\"og:description\" content=\"03\/25\/2004 04-04 The taxpayer reported business income on Schedule C (Profit or Loss from Business) of his 1999 federal income tax return but did not report New Mexico gross receipts tax on this income. \u00a0In response to the Department\u2019s audit notice, the taxpayer established that some of his sales were made out-of-state. \u00a0The Department reduced [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2004\/03\/25\/terry-r-linda-a-wolff\/\" \/>\n<meta property=\"og:site_name\" content=\"All NM Taxes\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nmtaxationandrevenue\" \/>\n<meta property=\"article:published_time\" content=\"2004-03-25T22:21:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-11T19:34:41+00:00\" \/>\n<meta name=\"author\" content=\"admin@sks.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin@sks.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.tax.newmexico.gov\\\/all-nm-taxes\\\/2004\\\/03\\\/25\\\/terry-r-linda-a-wolff\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.tax.newmexico.gov\\\/all-nm-taxes\\\/2004\\\/03\\\/25\\\/terry-r-linda-a-wolff\\\/\"},\"author\":{\"name\":\"admin@sks.com\",\"@id\":\"https:\\\/\\\/www.tax.newmexico.gov\\\/all-nm-taxes\\\/#\\\/schema\\\/person\\\/35a194272e02a09e62fc495bfe6c0532\"},\"headline\":\"Terry R. &#038; Linda A. 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