Martinez Signs Changes To Tax Code
Gov. Susana Martinez has signed legislation aimed at simplifying New Mexico's tax code.
The bill sponsored by Republican Rep. Tom Taylor of Farmington targeted the statute that governs the New Mexico Taxation and Revenue Department and the procedures taxpayers have to follow.
With the governor's signature, the measure will extend deadlines so taxpayers filing amended returns as the result of actions by the Internal Revenue Service will have double the time — 180 days — to file.
The measure also sets the maximum filing extension at 12 months and increases the protest filing period to 90 days.
Martinez says the changes will make it easier for New Mexicans to understand important obligations and deadlines under the tax code.
The provisions spelled out by the legislation will take effect July 1.
Copyright 2013 The Associated Press.