New Mexico State Tax Guide

New Mexico state tax rates and rules for income, sales, property, fuel, cigarette, and other taxes that impact residents.

New Mexico flag for New Mexico state tax
(Image credit: Getty Images)

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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Up to $5,5001.7%
$5,501 to $11,0003.2%
$11,001 to $16,0004.7%
$16,001 to $210,0004.9%
More than $210,0005.9%
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$4,000 or less1.7%
$4,001 to $8,0003.2%
$8,001 to $12,0004.7%
$12,001 to $157,5004.9%
More than $157,5005.9%
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Up to $8,0001.7%
$8,001 to $16,0003.2%
$16,001 to $24,0004.7%
$24,001 to $315,0004.9%
More than $315,0005.9%
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Cigarettes$1.66 per pack
Other tobacco products25% 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
Marijuana12% excise tax (will gradually increase to 18% by 2030)

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Katelyn Washington
Former Tax Writer

Katelyn has more than 6 years of experience working in tax and finance. While she specialized in tax content while working at Kiplinger from 2023 to 2024, Katelyn has also written for digital publications on topics including insurance, retirement, and financial planning and had financial advice commissioned by national print publications. She believes knowledge is the key to success and enjoys providing content that educates and informs.

With contributions from