From the New Mexico Taxation and Revenue Department, web site at:
Payment Plans
"The law requires all taxes to be paid in full. When the Department sees that you cannot make a payment in full by a certain date, the Department may enter into a payment plan that allows you to make installment payments to pay off tax debt. Please note that interest and penalty continue to accrue.
A payment plan is a contract between you and the Department. When you are on a payment plan, the Department does not actively seek collection. If, however, you default on the agreement, the Department resumes collection of the tax. The Department offers different types of payment plans depending upon your specific case.
If you do not make the minimum payment, make payments late, establish new debt, or do not file required returns, the Department sends a Delinquent Agreement letter. If you do not respond to the letter, the Department sends a Defaulted Agreement letter. Delinquent taxpayers on a short-term agreement will have a lien perfected on their debts. Further collection action follows. This may include serving levies to seize assets including motor vehicles. If you are a delinquent taxpayer and a business owner, collection actions may include court orders to close a business or seize its assets."