New Mexico § 7-1-59 - Jeopardy assessments

§ 7-1-59. Jeopardy assessments

A. If the secretary at any time reasonably believes that the collection of any tax

for which a taxpayer is liable will be jeopardized by delay, the secretary may immediately

make a jeopardy assessment of the amount of tax the payment of which to the state

the secretary believes to be in jeopardy. B. A jeopardy assessment is effective upon the delivery, in person or by certified

mail, to the taxpayer against whom the liability for tax is asserted, of a document

entitled “notice of jeopardy assessment of taxes”, issued in the name of the secretary,

stating the nature and amount of the taxes assertedly owed by the taxpayer to the

state, demanding of the taxpayer the immediate payment of that amount of tax and briefly

informing the taxpayer of the steps that may be taken against the taxpayer as well

as of the remedies available to the taxpayer. C. Notwithstanding any other provision of the Tax Administration Act, if any taxpayer

against whom a jeopardy assessment has been made neglects or refuses either to pay

the amount of tax demanded of the taxpayer or furnish satisfactory security therefor

within five days of the service upon the taxpayer of the notice of jeopardy assessment,

the secretary may immediately proceed to collect the tax by levy, as provided in Section 7-1-31 NMSA 1978 , on sufficient property of the taxpayer to satisfy the deficiency, protect the interests

of the state by, as provided in Section 7-1-53 NMSA 1978 , enjoining the taxpayer from doing business in New Mexico or both. D. A taxpayer to whom a jeopardy assessment has been made may cause the procedure

of levy or injunction as set forth in Subsection C of this section to be stayed by

filing with the department acceptable security in an amount equal to the amount of

taxes assessed, as provided in Section 7-1-54 NMSA 1978 . A taxpayer to whom a jeopardy assessment has been made may dispute the jeopardy

assessment either by furnishing security and otherwise following the procedures set

forth in Section 7-1-24 NMSA 1978 or by paying the tax and claiming a refund as provided by Section 7-1-26 NMSA 1978 .