A. Within thirty days after receiving from the successor a written request for a certificate, or within thirty days from the date the former owner's records are made available for audit, whichever period expires the later, but in any event not later than sixty days after receiving the request, the secretary or secretary's delegate shall either issue the certificate or mail a notice to the successor of the amount of tax due from operating the business for which the former owner is liable and which must be paid as a condition of issuing the certificate.
B. Failure of the department to mail or deliver the notice of tax due within the required time releases the successor from any obligation as a successor under Section 7-1-61 NMSA 1978.
History: 1953 Comp., § 72-13-75, enacted by Laws 1965, ch. 248, § 63; 1979, ch. 144, § 56; 1997, ch. 67, § 6.
The 1997 amendment, effective July 1, 1997, substituted "secretary" for "director" and "successor" for "purchaser" in the section heading and throughout the section; in Subsection A, inserted "due from operating the business" following "of the amount of tax" and substituted "former owner" for "vendor" at the end of the sentence; and in Subsection B, inserted "or deliver" following "to mail", inserted "of tax due" following "the notice", and substituted "as a successor under" for "to withhold from the purchase price and releases the property from the operation of".
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