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Personal income tax rates for New Mexico range from 1.7% to 4.9%, within four income brackets. [ 9] The individual income tax rates are listed in the table below. [ 10] Rate. Income. Heads of household, widow (er)s, and married persons filing jointly. 1.7%. $8,000 or less. $136 plus 3.2% of excess over $8,000.
New Mexico is a state located in the Western United States. According to the 2020 United States Census, New Mexico is the 15th least-populous state with 2,117,522 inhabitants [1] but the 5th-largest by land area, spanning 121,298.15 square miles (314,160.8 km 2). [2] New Mexico is divided into 33 counties and contains 106 municipalities ...
Oil and gas production, tourism, and federal government spending are important drivers of New Mexico 's economy. The state government has an elaborate system of tax credits and technical assistance to promote job growth and business investment, especially in new technologies. In 2017 New Mexico's gross domestic product was $94.2 billion.
New Mexico is one of 18 states with a tax-free holiday, according to a 2023 New Mexico Tax Expenditure Report. And businesses don't have to participate in the tax-free weekend, said New Mexico ...
July 26, 2024 at 8:38 AM. Tax free weekend in New Mexico begins at 12:01 a.m. on Friday, Aug. 2 and runs through Saturday, Aug. 4 at midnight. The gross receipt tax exception applies to eligible ...
Dec. 11—Some 16,700 tax rebate checks from 2022 totaling $6 million were returned to the New Mexico Tax and Revenue Department as undeliverable. The checks were part of the three rounds of ...