New Mexico Administrative Code
Title 11 - LABOR AND WORKERS' COMPENSATION
Chapter 3 - EMPLOYMENT SECURITY
Part 400 - TAX ADMINISTRATION
Section 11.3.400.426 - APPLICATION OF UNDERPAYMENTS
Universal Citation: 11 NM Admin Code 11.3.400.426
Current through Register Vol. 35, No. 6, March 26, 2024
In the event an employing unit fails to submit payment in an amount sufficient to satisfy the total amount of outstanding debt for any current or past-due contributions, interest or penalty, the amount of the underpayment shall be applied in the following order: first, to any contributions and excess claims premiums due, second, to any interest due and third, to any penalties due, from the oldest debt to the newest.
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