New Mexico Income Tax Calculator

Summary

Enter your salary into the calculator above to find out how taxes in New Mexico, USA affect your income. You'll then get your estimated take home pay, a detailed breakdown of your potential tax liability, and a quick summary down here so you can have a better idea of what to expect when planning your budget.

If you make 0 a year living in New Mexico, USA, we estimate that you'll be taxed 0. In almost all cases, your employer will automatically withhold this amount from your paychecks and thus your take home pay should be around 0 per year or 0 per month. Lastly, your average tax rate ends up being around 0 %. Note that this estimate is based only on the most common standard deductions and credits, if any. If you are eligible for additional deductions and credits, your taxes may be lower.

Special Notes

• If a state has zero income tax, this usually means they find creative ways to tax you in other ways in order to compensate. For example, this could potentially be through higher property taxes, higher sales taxes, fewer state services, fewer state benefits, etc. Obviously, each state will be different and this may not be the case in every state.

The state of New Mexico

The territory north and west of the Rio Grande was called New Mexico by the Spaniards. New Mexico was the 47th state to join the Union in 1912. The state is sometimes known as the Land of Enchantment due to its beautiful landscapes and rich history. So alluring was its appeal that many, including Coronado, who was a Spanish conquistador, have traveled through the area now known as New Mexico in search of the legendary seven cities of gold. Today, New Mexico is home to a large Hispanic population, as the state was under Spanish control from the 16th century until around 1846.

The Apache Indians who live there have a visible influence on the artwork and culture. Influence from the Pueblo Indian presence is also visible through the tribe's buildings and lands.

New Mexico is part of the "Old West" and was known for its cowboys and cattle drives. The landscape is made up of rose-colored deserts and snow-capped mountains. There are Indian ruins, frontier forts and Spanish missions that can be visited by tourists fascinated by history. Some interesting events tourists can attend include Indian ceremonies, Spanish fiestas and local rodeos.

Frequently Asked Questions

What is the income tax rate in New Mexico?

The state income tax rate in New Mexico is progressive and ranges from 1.7% to 5.9% while federal income tax rates range from 10% to 37% depending on your income. This income tax calculator can help estimate your average income tax rate and your salary after tax.

How many income tax brackets are there in New Mexico?

The state income tax system in New Mexico has 5 different tax brackets. For more details, check out our detail section.

New Mexico Income Tax Brackets and Other Information

The state income tax system in New Mexico is a progressive tax system. This means that your income is split into multiple brackets where lower brackets are taxed at lower rates and higher brackets are taxed at higher rates. The tax brackets are different depending on your filing status. Those that are filing as single see tax rates that range from 1.7% to 5.9%.

Those that are married filing jointly or filing as head of household see the same tax rate range, but have their tax bracket amounts increased.

On the other hand, those that are married filing separately see adjusted tax bracket amounts.

A state standard deduction exists and is available for those that qualify for a federal standard deduction. Along with a few other other states, New Mexico uses the same amounts as that of the federal standard deduction amounts. Low and middle income earners are also eligible for additional tax exemptions.

Aside from state income tax, New Mexico also includes a small worker's compensation fee that helps fund the administration of the Workers' Compensation Administration.

For sales tax, please visit our New Mexico Sales Tax Rates and Calculator page.

Sources:

• New Mexico Taxation and Revenue
• Internal Revenue Service
• United States Social Security Administration
• Official U.S. government site for Medicare

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Income Tax Calculator Disclaimer

• Tax situations vary widely and calculations can get very complex. This income tax calculator only provides an estimate according to the most common scenarios for salary (standard employment income) that comes from an employer. If you are self-employed, your taxes might differ.
• There may be additional deductions, credits, exemptions, allowances, reliefs, etc depending on many factors. Some factors are about your family such as the number of dependents, children, relatives, parents, etc. Other factors may include mortgage payments, property depreciation, charitible donations, additional voluntary retirement contributions, etc. Whether or not you are handicapped and/or disabled may also sometimes be an additional factor.
• Depending on region and jurisdiction, salary bonuses may be treated and taxed differently from standard salary. Additionally, some cities may have city specific income tax.
• This income tax calculator only estimates income tax. It does not consider other taxes like property tax, self-employment tax, capital gains tax, dividend tax, etc.
• Income tax calculators from other sites may show slightly different numbers due to different deductions/credits being included or they are based on data from a different year.
• Investomatica is not a tax advisor. While we try our best to stay up to date with changes in tax codes, we make no guarantee our income tax calculator will always be accurate. Generally, we review changes once a year. If you notice a major miscalculation or error with our income tax calculator (most likely caused by a typo somewhere), feel free to direct message us on twitter and let us know. However, if you have specific tax questions, please consult a licensed tax professional.