Section 10. Negligence

Taxpayer “negligence” under Subsection 7-1-69A NMSA 1978 means: 3.1.11 NMAC 2 A. failure to exercise that degree of ordinary business care and prudence which reasonable taxpayers would exercise under like circumstances; B. inaction by taxpayers where action is required; C. inadvertance, indifference, thoughtlessness, carelessness, erroneous belief or inattention.