New Mexico Statutes 7-14-8. Imposition of penalty for failure to make timely application
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A penalty of fifty percent of the tax is imposed on any person who is:
A. domiciled in this state and accepts transfer in this state, but fails to apply for a certificate of title within ninety days of the date on which ownership of the vehicle was transferred to the person; or
B. domiciled in this state but accepts transfer outside this state and fails to apply for a certificate of title within ninety days of the date on which the vehicle is brought into this state.