SANTA FE, N.M. (AP) — New Mexico Gov. Michelle Lujan Grisham on Monday signed a measure that would temporarily forgive tax-interest penalties during the coronavirus pandemic.
The bill also will boost temporary state payments to cities hit hard by the economic downturn, a provision that garnered support from business groups and municipal leaders.
The measure was among eight pieces of legislation that lawmakers passed during the recent special session, which focused primarily on solvency issues for state government. Lujan Grisham still has to act on the budget bill as well as legislation that would mandate police body cameras for nearly all state and local law enforcement officers.
“The financial pain caused by COVID-19 is real,” the governor said in a statement. “This bill will help New Mexicans who through no fault of their own were unable to pay their taxes on time. It will help local governments, and it will help small businesses, all of whom have been suffering the dreadful effects of this pandemic.”
For those New Mexicans unable to pay their taxes on time, the bill signed Monday temporarily waives interest and penalties on late tax payments. State officials say taxpayers must still file their tax returns in a timely manner, and payments can follow later.
The deadlines for personal and corporate income tax payments as well as gross receipts tax, withholding tax and property tax are now in April 2021.
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