N.M. Stat. § 7-1-13.1

A. Payment of the taxes, including any applicable penalties and interest, described in Paragraph (1), (2), (3) or (4) of this subsection shall be made on or before the date due in accordance with Subsection B of this section if the taxpayer's average tax payment for the group of taxes during the preceding calendar year equaled or exceeded twenty-five thousand dollars ($25,000):

(1) Group 1: all taxes due under the Withholding Tax Act 1 , the Gross Receipts and Compensating Tax Act, 2 local option gross receipts tax acts, the Interstate Telecommunications Gross Receipts Tax Act 3 and the Leased Vehicle Gross Receipts Tax Act; 4

(2) Group 2: all taxes due under the Oil and Gas Severance Tax Act, 5 the Oil and Gas Conservation Tax Act, 6 the Oil and Gas Emergency School Tax Act 7 and the Oil and Gas Ad Valorem Production Tax Act; 8

(3) Group 3: the tax due under the Natural Gas Processors Tax Act; 9 or

(4) Group 4: all taxes and fees due under the Gasoline Tax Act, [FN10] the Special Fuels Supplier Tax Act [FN11] and the Petroleum Products Loading Fee Act. [FN12]

For taxpayers who have more than one identification number issued by the department, the average tax payment shall be computed by combining the amounts paid under the several identification numbers.

B. Taxpayers who are required to make payment in accordance with the provisions of this section shall make payment by one or more of the following means on or before the due date so that funds are immediately available to the state on or before the due date:

(1) electronic payment; provided that a result of the payment is that funds are immediately available to the state of New Mexico on or before the due date;

(2) currency of the United States;

(3) check drawn on and payable at any New Mexico financial institution provided that the check is received by the department at the place and time required by the department at least one banking day prior to the due date; or

(4) check drawn on and payable at any domestic non-New Mexico financial institution provided that the check is received by the department at the time and place required by the department at least two banking days prior to the due date.

C. If the taxes required to be paid under this section are not paid in accordance with Subsection B of this section, the payment is not timely and is subject to the provisions of Sections 7-1-67 and 7-1-69 NMSA 1978 .

D. For the purposes of this section, “ average tax payment ” means the total amount of taxes paid with respect to a group of taxes listed under Subsection A of this section during a calendar year divided by the number of months in that calendar year containing a due date on which the taxpayer was required to pay one or more taxes in the group.