Taxpayer "negligence" under Subsection 7-1-69 A NMSA 1978 means:
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.
11/5/85, 8/15/90, 10/31/96; 3.1.11.10 NMAC - Rn & A, 3 NMAC 1.11.10, 1/15/01