N.M. Admin. Code § 11.3.400.426

Current through Register Vol. 35, No. 21, November 5, 2024

Section 11.3.400.426 - APPLICATION OF UNDERPAYMENTS

In the event an employing unit fails to submit payment in an amount sufficient to satisfy the total amount of outstanding debt for any current or past-due contributions, interest or penalty, the amount of the underpayment shall be applied in the following order: first, to any contributions and excess claims premiums due, second, to any interest due and third, to any penalties due, from the oldest debt to the newest.

11.3.400.426 NMAC - N, 07-16-2007, Amended by New Mexico Register, Volume XXV, Issue 19, October 15, 2014, eff. 10/15/2014, Adopted by New Mexico Register, Volume XXVII, Issue 22, November 30, 2016, eff. 11/30/2016, Amended by New Mexico Register, Volume XXX, Issue 20, October 29, 2019, eff. 10/29/2019