{"id":7460,"date":"2002-06-03T16:32:05","date_gmt":"2002-06-03T22:32:05","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/?p=7460"},"modified":"2026-04-11T13:35:05","modified_gmt":"2026-04-11T19:35:05","slug":"malcolm-services-inc","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2002\/06\/03\/malcolm-services-inc\/","title":{"rendered":"Malcolm Services, Inc."},"content":{"rendered":"<p>[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 _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\">06\/03\/2002<\/div>\n<\/div>\n<div class=\"blogItem\">\n<p><a href=\"\/businesses\/wp-content\/uploads\/sites\/9\/2020\/11\/02-14__malcolm_services.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">02-14<\/a><\/p>\n<p>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\u2019s corporate income tax liability can reasonably be expected to be $5,000 or more. The Taxpayer did not make any estimated payments during the tax year ending July 31, 2000, although its liability for that year exceeded $5,000. In November 2000, the Department assessed the Taxpayer for penalty and interest due on the Taxpayer&#8217;s failure to make quarterly estimated payments. The Taxpayer protested the assessment, arguing that Regulation 3.4.9.10 NMAC excuses a corporation from the estimated payment requirement if its tax liability for the two preceding years was less than $6,000. Held: The Taxpayer\u2019s reading of regulation 3.4.9.10 NMAC was incorrect. The Taxpayer was required to make quarterly estimated payments of corporate income tax during tax year 2000, and is liable for interest and penalty resulting from its failure to make such payments. Protest denied.<\/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>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\u2019s corporate income tax liability can reasonably be expected to be $5,000 or more. The Taxpayer did not make any [&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-7460","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>Malcolm Services, 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\/2002\/06\/03\/malcolm-services-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Malcolm Services, Inc. : All NM Taxes\" \/>\n<meta property=\"og:description\" content=\"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\u2019s corporate income tax liability can reasonably be expected to be $5,000 or more. 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