New Mexico agency reporting more than 100 cannabis license holders failed to file taxes

SUNLAND PARK, New Mexico (KVIA) -- New Mexico's Department of Taxation and Revenue reported that more than 100 cannabis retail license holders have not complied with tax filing rules. The agency explains, however, some business owners may hold more than one license if they manage multiple businesses.

The state sent out a news release Wednesday morning, saying that the Taxation and Revenue Department has been contacting noncompliant license holders since the summer. The department has reached out to cannabis retail license holders who have "failed to file one or more tax returns since registering with the Department," according to the release.

The release reports that 80 of these retailers have complied since the department began reaching out in the past few months.

License holders must be in good standing with their taxes in order to renew their licenses.