{"data":{"id":"us-nm/7-14-9.2","jurisdiction":"us-nm","citation":"7-14-9.2","heading":"Penalties for failure to submit report or to pay; interest.","body":"A. Any person required to submit the report required by Subsection C of Section 7-14-7.1 NMSA 1978 who does not file the report in the manner and by the date required shall pay a penalty in an amount equal to five percent of the total amount of tax suspended pursuant to Subsection A of Section 7-14-7.1 NMSA 1978 for vehicles required to be included in the report.\nB. Any person required to pay any amount pursuant to Subsection D of Section 7-14-7.1 NMSA 1978 who fails to pay the amount by the date required is liable for penalty in an amount equal to the greater of five dollars ($5.00) or two percent per month or any fraction of a month from the date the amount was due multiplied by the amount of tax due but not paid, not to exceed a maximum of ten percent of the tax due but not paid.\nC. If any person required to pay any amount pursuant to Subsection D of Section 7-14-7.1 NMSA 1978 fails to pay the amount by the date required, interest shall be paid to the state on such amount in accordance with the provisions of Section 7-1-67 NMSA 1978.","path":["Chapter 7 - Taxation","ARTICLE 14 Motor Vehicle Excise Tax"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18507/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"801f82e8551055f68fc2314c811a037c58a8b899f209743df7d9621feb01ee5d","source_id":"us-nm","stale":false,"prev":"us-nm/7-14-9.1","next":"us-nm/7-14-10"},"notice":"GroundRules: Original legal text. Not legal advice."}