New Mexico Administrative Code
Title 3 - TAXATION
Chapter 1 - TAX ADMINISTRATION
Part 7 - PROTEST
Section 3.1.7.9 - ACCEPTANCE OF PAYMENT OF ASSESSMENT AFTER PROTEST
Universal Citation: 3 NM Admin Code 3.1.7.9
Current through Register Vol. 35, No. 18, September 24, 2024
Tender by a taxpayer and acceptance by the secretary or secretary's delegate of payment of a protested assessment prior to resolution of the protest constitutes an agreement:
A. by the secretary to waive the taxpayer's election of remedies under Section 7-1-23 NMSA 1978 upon a resolution of the protest favorably to the taxpayer so as to permit the taxpayer to file a claim for refund for the portion of the protested assessment resolved in favor of the taxpayer; and
B. by the taxpayer to waive the accrual of interest on any refund arising from the portion of the protested assessment resolved in favor of the taxpayer.
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