New Mexico Publishes Effective Interest Rates for Late Payment of Tax Due

The New Mexico Department of Taxation and Revenue recently released Bulletin B-400.4, publishing the effective interest rates for late payment of tax due. This bulletin is released on a periodic basis during the course of the year to announce interest rates applicable for specific time frames.

The interest rate for the period between July 1, 2019 to September 30, 2019 is 5% annually, or 0.013698639% daily. This is down from 6% in the previous term, January to June 2019.

To review this bulletin in its entirety, visit the Department website.

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Author

Paul Ogawa

Paul Ogawa is a Junior Regulatory Counsel at Sovos Compliance. As part of the Regulatory Analysis team, his main areas of focus are state and federal tax withholding, the Affordable Care Act (ACA), and Canadian tax information reporting. Prior to Sovos, Paul worked as a litigation attorney in Boston area law firms, representing clients in insurance subrogation claims, family law matters, and employment disputes. Paul is a member of the Massachusetts Bar, earned his B.A. from Brandeis University and his J.D. from the Suffolk University Law School.
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