New Mexico Amends Tax Administration Provisions, Film Tax Credits

The New Mexico Governor signed a law making numerous amendments to tax administration including allowing attorney fees to be paid from revenue distributions, preventing interest accrual when tax filing extensions have been granted, and clarifying that taxpayers with installment agreements are not considered delinquent taxpayers for purposes of license or permit renewal. The law also amends the Film Production Tax Credit Act, clarifies tobacco products tax on closed system cartridges, and allows excess property tax auction proceeds to be applied to outstanding tax debt. The law takes effect July 1, while provision on the Film Production Tax Credit Act take ...