Garduno's will repay its $953,000 tax debt under a payment plan agreement reached with the state
Garduno's and the state announced Thursday that they reached a payment plan agreement over the company's $953,000 tax debt, which effectively keeps the restaurant chain open for business.
State Secretary of Taxation and Revenue Rick Homans enjoyed lunch at the Winrock location before announcing the deal at a news conference with David Garduno, owner and founder, and Mike Calcaterra, CEO.
"I paid my bill and gross receipts tax and can testify that this restaurant still serves one of best enchiladas in New Mexico," Homans said at the news conference. "I had a great lunch."
Under the agreement, Garduno's agrees to pay its entire tax tab with the state -- more than $953,00 including penalties and interest -- under a 60-month installment plan.
The agreement approved by Judge Daniel Sanchez in Santa Fe District Court on Thursday morning dissolves the injunction that would have put the restaurant chain out of business.
Tortilla Inc., the parent company of Garduño's, had to pay $25,000 upon signing the agreement as well as September taxes. It will pay $86,000 on Dec. 1, and continue to make monthly payments due on the 10th of each month as well as continue to pay its current gross receipts taxes.
An injunction to stop the company from doing business was issued in a Oct. 20 court hearing after Tortilla Inc. did not follow terms of a continuance order issued in July, which included keeping up with its current taxes as well as allowing the restaurant time to object to penalties.
All reasons given by the company as to why it should not have to pay penalties and interest were denied by the state.
After the hearing and in a letter sent to the Albuquerque Journal the following day, Garduño's officials said embezzlement by a former employee was to blame for its tax issues.
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