N.M. Admin. Code § 20.3.16.13

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

Section 20.3.16.13 - PRORATION

A. The purpose of proration is to bring all licensees to an annual fee due date of July 1 of each year, beginning July 1, 2024. For licenses issued prior to July 1, 2024, the annual fees shall be prorated by multiplying the number of complete and partial months between the anniversary date of the license issuance and July 1, 2024 by the calculated monthly amount of the annual fees due. The resulting calculation of prorated annual fees will be rounded up to the nearest dollar and be due, along with the FY 25 annual fee, on July 1, 2024.

B. After July 1, 2024, there will be no proration, and:

(1) new licensees must pay the full amount of annual fees, regardless of the month of license issuance;

(2) existing licensees must pay the full amount of annual fees on July 1 of each year, regardless of the anniversary date of license issuance; and

(3) licensees who terminate their licenses will not receive a refund of annual fees paid.

N.M. Admin. Code § 20.3.16.13

20.3.16.13 NMAC - N, 5/19/2002, Adopted by New Mexico Register, Volume XXXV, Issue 07, April 9, 2024, eff. 5/1/2024