New Mexico Tax Rates, Brackets
Detailed Information about New Mexico state income tax brackets and rates, standard deduction information, and tax forms by tax year etc. can be found on this page.
If you still need to file a return for a previous tax year, find the New Mexico tax forms below. You can complete and sign the forms here on eFile.com before you mail them to the NM Taxation and Revenue Department. For Federal or IRS back taxes access the tax forms here. Other important New Mexico state income tax return information and other related features (e.g. tax extension, amendment, etc.)
New Mexico Income Tax Returns
Prepare only a NM State Return without an IRS return.
Details
File a current New Mexico Tax Amendment
New Mexico Income Tax Forms
New Mexico Tax Brackets, Rates explained
IRS Tax Brackets, Rates by Tax Year
Income Tax Brackets, Rates, Income Ranges, and Estimated Taxes Due
Here you can find how your New Mexico based income is taxed at different rates within the given tax brackets. When you prepare your return on eFile.com this is all calculated for you based on your income.
New Mexico Tax Brackets for Tax Year 2023
2023 NM Tax Rates will be updated as they become available.
MFJ/HOH/Qualifying Widow
TBD
TBD
New Mexico Tax Brackets for Tax Year 2022
As you can see your income in New Mexico is taxed at different rates within the given tax brackets. Any income over $210,500 (Single), or $157,500 (Married Separate), or $315,000 (Married) would be taxes at the highest rate of 5.90%.
1.70%
Single
$0 to $5,500
1.70% of Income
Married Separate
$0 to $4,000
1.70% of Income
MFJ/HOH/Qualifying Widow
$0 to $8,000
1.70% of Income
3.20%
Single
$5,501 to $11,000
$93.50 + 3.20%
Married Separate
$4,001 to $8,000
$68.00 + 3.20%
MFJ/HOH/Qualifying Widow
$8,001 to $16,000
$136 + 3.20%
4.70%
Single
$11,001 to $16,000
$269.50 + 4.70%
Married Separate
$8,001 to $12,000
$196 + 4.70%
MFJ/HOH/Qualifying Widow
$16,001 to $24,000
$392 + 4.70%
4.90%
Single
$16,001 to $210,000
$504.50 + 4.90%
Married Separate
$12,001 to $157,500
$384 + 4.90%
MFJ/HOH/Qualifying Widow
$24,001 to $315,000
$768 + 4.90%
5.90%
Single
$210,001+
$10,010.50 + 5.90%
Married Separate
$157,501+
$7,513.50 + 5.9% over $157,500.
MFJ/HOH/Qualifying Widow
$315,001+
$15,027 + 5.9% over $315,000.
New Mexico Tax Brackets for Tax Year 2021
Previous NM Income Brackets.
1.70%
Single
$0 to $5,500
1.70% of Income
Married Separate
$0 to $4,000
1.70% of Income
MFJ/HOH/Qualifying Widow
$0 to $8,000
1.70% of Income
3.20%
Single
$5,501 to $11,000
$93.50 + 3.20%
Married Separate
$4,001 to $8,000
$68.00 + 3.20%
MFJ/HOH/Qualifying Widow
$8,001 to $16,000
$136 + 3.20%
4.70%
Single
$11,001 to $16,000
$269.50 + 4.70%
Married Separate
$8,001 to $12,000
$196 + 4.70%
MFJ/HOH/Qualifying Widow
$16,001 to $24,000
$392 + 4.70%
4.90%
Single
$16,001 to $210,000
$504.50 + 4.90%
Married Separate
$12,001 to $157,500
$384 + 4.90%
MFJ/HOH/Qualifying Widow
$24,001 to $315,000
$768 + 4.90%
5.90%
Single
$210,001+
$10,010.50 + 5.90%
Married Separate
$157,501+
$7,513.50 + 5.9% over $157,500.
MFJ/HOH/Qualifying Widow
$315,001+
$15,027 + 5.9% over $315,000.
New Mexico Standard and Itemized Deductions
Officially, New Mexico does not have standard deductions; however, they technically apply the federal standard deductions when calculating taxable income. Similarly, although New Mexico does not have specific itemized deductions, they do allow adjustments to income similar to itemized deductions at the federal level.
Attention: When you prepare and eFile your Tax Return New Mexico tax return the eFile Tax App will apply the correct standard deductions for you or you can apply the itemized deduction method.
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