New Mexico State Tax Payment Plan

The New Mexico Taxation and Revenue Department offers two payment plan options for anyone who owes a tax debt. In both cases, taxes and penalties will continue to accrue. They are:

Short Term: This gives you 12 months or less to pay off your back taxes. In most cases, the department doesn’t file a lien. However, if you miss a payment, the agreement is terminated and the collection process begins.
Installment Agreements: This involves a formal, written agreement between you and the state, but it allows you up to 60 months to pay off your debt. Before this agreement will be granted, a lien or some other acceptable security must be set up. Installment agreements can be set up that allow for:
o Equal payments
o Fluctuating payments when you have seasonal work
o Payments that increase throughout the length of the agreement, which allows you to focus on paying off other debts first.

The department does not provide information or forms online regarding how to apply for a payment plan or installment agreement. Instead, you can send them a message here or call the Audit and Compliance Division at 505-827-0940 to discuss your options.