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Rejecting a Bad Contract in a New Mexico Bankruptcy: Dandurand, Baird, and the § 365 Clock
A $1.00 stock deal, a Subchapter V filing, and an August 2026 appellate affirmance show how far the power to reject a contract in bankruptcy reaches.…
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When to Revoke an S Corporation Election Before a New Mexico Bankruptcy Sale
Owoc decided that shareholders hold the power to end an S election in bankruptcy; this post covers when and how to use it before a New…
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Selling Farm or Ranch Land in a New Mexico Chapter 12: Section 1206, the Plan, and the Tax
New Mexico farm and ranch families who sell land in bankruptcy face the lender and then the tax on the gain. This post explains § 1206…
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Tax Preparer Fraud Statute of Limitations in New Mexico After the Murrin Cert Denial
The Supreme Court declined to hear Murrin v. Commissioner, leaving the Tax Court free to reopen decades-old years when a preparer committed fraud. For New Mexico…
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The SBA Demand Letter New Mexico Borrowers Can’t Ignore: A 30-Day Playbook
SBA has suspended 2,383 New Mexico pandemic-loan borrowers and is starting to send final 30-day demand letters. This guide walks through the suspension rules, Treasury offset…
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New Mexico LLC Owners Took the Money: How Creditors Claw Back Distributions
When a New Mexico LLC pays its owners and then stops paying creditors, the LLC Act gives the creditor no direct claim against the members. Voidable…
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Substantial Presence Test in New Mexico: When Visiting Researchers Become Tax Residents
A J-1 researcher at Los Alamos can file as a nonresident for two years and then become a U.S. tax resident without any change in visa.…
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Obduskey and New Mexico Foreclosures: Where the FDCPA and Chapter 13 Still Reach
Obduskey shields businesses that only carry out nonjudicial foreclosures from most of the FDCPA, but New Mexico requires most home loans to be foreclosed in district…
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Does a 363 Sale Wipe Out New Mexico Tax Successor Liability?
New Mexico law lets the Taxation and Revenue Department collect a seller’s unpaid gross receipts tax from the business buyer. This post explains when a bankruptcy…
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Insights ✶ New Mexico
Tax & Bankruptcy Insights
Plain-English analysis of federal tax defense, tax planning, and bankruptcy developments that matter to New Mexico individuals and business owners. New posts every week from attorney-CPA Phillip Zagotti.