New Mexico State Tax: Overview
New Mexico has an income tax with a top rate of 5.9%, but your income taxes are waived if you reached 100 years of age. And this year, New Mexico approved tax rebate checks that will go out to eligible taxpayers in June.
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New Mexico State Tax: Income Taxes
| Up to $5,500 | 1.7% |
| $5,501 to $11,000 | 3.2% |
| $11,001 to $16,000 | 4.7% |
| $16,001 to $210,000 | 4.9% |
| More than $210,000 | 5.9% |
| $4,000 or less | 1.7% |
| $4,001 to $8,000 | 3.2% |
| $8,001 to $12,000 | 4.7% |
| $12,001 to $157,500 | 4.9% |
| More than $157,500 | 5.9% |
| Up to $8,000 | 1.7% |
| $8,001 to $16,000 | 3.2% |
| $16,001 to $24,000 | 4.7% |
| $24,001 to $315,000 | 4.9% |
| More than $315,000 | 5.9% |
New Mexico Sales Tax
How Much Are Property Taxes in New Mexico?
New Mexico Vehicle Taxes
New Mexico Taxes on Alcohol and Tobacco
| Cigarettes | $1.66 per pack |
| Other tobacco products | 25% of the product value |
| Vapor products (open) | 12.5% of product value |
| Vapor products (closed) | $0.50 per cartridge |
| Beer | $0.41 per gallon |
| Wine | $1.70 per gallon |
| Liquor | $6.06 per gallon |
| Marijuana | 12% excise tax (will gradually increase to 18% by 2030) |
New Mexico Estate and Inheritance Taxes
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