{"id":2249,"date":"2010-09-01T12:31:47","date_gmt":"2012-09-07T20:05:36","guid":{"rendered":"\/new-mexico-state-taxes"},"modified":"2025-02-11T10:54:55","modified_gmt":"2025-02-11T18:54:55","slug":"new-mexico-state-taxes","status":"publish","type":"post","link":"https:\/\/www.irs.com\/en\/new-mexico-state-taxes\/","title":{"rendered":"New Mexico State Taxes"},"content":{"rendered":"<p><strong><br \/>\nNew Mexico State Tax ? Individual Income Tax<\/strong><\/p>\n<p>The individual income tax rates for New Mexico are as follows:<\/p>\n<ul>\n<li> 1.7% on the first $5,500 of taxable income<\/li>\n<li> 3.2% on taxable income between $5,501 and $11,000<\/li>\n<li> 4.7% on taxable income between $11,001 and $16,000<\/li>\n<li> 4.9% on taxable income of $16,001 or more<\/li>\n<\/ul>\n<p><strong>New Mexico State Tax ? Corporate Income Tax<\/strong><\/p>\n<p>The NM corporate income tax is imposed at the following rates:<\/p>\n<ul>\n<li> 4.8% on the first $500,000 of taxable income<\/li>\n<li> 6.4% on taxable income between $500,001 and $1,000,000<\/li>\n<li> 7.6% on taxable income of $1,000,001 or more<\/li>\n<\/ul>\n<p><strong>New Mexico State Tax ? Sales &amp; Use Tax<\/strong><\/p>\n<p>New Mexico does not have a sales\/use tax, but it does have a Gross Receipts Tax (GRT) that applies to the sale or lease of goods and services. This tax is imposed by the state, counties, and municipalities with combined rates that range from5.375% to 8.6875%.<\/p>\n<p><strong>New Mexico State Tax ? Property Tax<\/strong><\/p>\n<p>Property taxes are administered by local governments. For information about property tax, contact your local assessor&#8217;s office.<\/p>\n<p><strong>New Mexico State Tax Forms<\/strong><\/p>\n<p><span style=\"text-decoration: underline\">Form PIT-1<\/span> (New Mexico Personal Income Tax Return)<br \/>\n<span style=\"text-decoration: underline\">Form PIT-PV<\/span> (New Mexico Personal Income Tax Return Payment Voucher)<br \/>\n<span style=\"text-decoration: underline\">Form PIT-ES<\/span> (New Mexico Individual Estimated Tax Payment Voucher)<br \/>\n<span style=\"text-decoration: underline\">Form PIT-X<\/span> (New Mexico Personal Income Tax &#8216; Amended Return)<br \/>\n<span style=\"text-decoration: underline\">Form RPD-41096<\/span> (Application for Extension of Time to File)<br \/>\n<span style=\"text-decoration: underline\">Form CIT-1<\/span> (New Mexico Corporate Income and Franchise Tax Return)<\/p>\n<p><strong>New Mexico State Tax Resources<\/strong><\/p>\n<p>New Mexico Taxation and Revenue Department (TRD): <a href=\"http:\/\/www.tax.state.nm.us\/\" target=\"_blank\" rel=\"noopener nofollow\">www.tax.state.nm.us<\/a><\/p>\n<p>New Mexico TRD &#8216;Electronic Tax Services:&#8217; <a href=\"http:\/\/www.tax.newmexico.gov\/Online-Services\/Pages\/Home.aspx\" target=\"_blank\" rel=\"noopener nofollow\">www.tax.newmexico.gov\/Online-Services<\/a><\/p>\n<p>New Mexico &#8216;e-File&#8217; Online Services: <a href=\"http:\/\/www.tax.newmexico.gov\/Online-Services\/Pages\/Gross-Receipts-Compensating-Withholding-Tax-E-Filing.aspx\" target=\"_blank\" rel=\"noopener nofollow\">www.tax.newmexico.gov\/Online-Services\/Gross-Receipts-Compensating-Withholding-Tax-E-Filing<\/a><\/p>\n<p>New Mexico TRD &#8216;Individuals&#8217; portal: <a href=\"http:\/\/www.tax.newmexico.gov\/Individuals\/Pages\/Home.aspx\" target=\"_blank\" rel=\"noopener nofollow\">www.tax.newmexico.gov\/Individuals<\/a><\/p>\n<p>New Mexico TRD &#8216;Businesses&#8217; portal: <a href=\"http:\/\/www.tax.newmexico.gov\/Businesses\/Pages\/Home.aspx\" target=\"_blank\" rel=\"noopener nofollow\">www.tax.newmexico.gov\/Businesses<\/a><\/p>\n<p>Check the status of your NM state tax refund electronically: <a href=\"http:\/\/www.tax.newmexico.gov\/Individuals\/Refunds\/Pages\/Check-Your-Refund-Status.aspx\" target=\"_blank\" rel=\"noopener nofollow\">www.tax.newmexico.gov\/Individuals\/Refunds\/Check-Your-Refund-Status<\/a><\/p>\n<p>New Mexico Property Tax Division: <a href=\"http:\/\/www.tax.newmexico.gov\/About-Us\/Property-Tax-Division\/Pages\/Home.aspx\" target=\"_blank\" rel=\"noopener nofollow\">www.tax.newmexico.gov\/Property-Tax-Division<\/a><\/p>\n<p>New Mexico Department of Finance &amp; Administration property tax rates by county: <a href=\"http:\/\/www.tax.newmexico.gov\/Businesses\/new-mexico-property-tax-districts.aspx\" target=\"_blank\" rel=\"noopener nofollow\">tax.newmexico.gov\/Businesses\/new-mexico-property-tax-districts.aspx<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Mexico State Tax ? Individual Income Tax The individual income tax rates for New Mexico are as follows: 1.7% on the first $5,500 of taxable income 3.2% on taxable income between $5,501 and $11,000 4.7% on taxable income between $11,001 and $16,000 4.9% on taxable income of $16,001 or more New Mexico State Tax [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[35],"tags":[],"class_list":["post-2249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-state-tax-returns"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.irs.com\/en\/wp-json\/wp\/v2\/posts\/2249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.irs.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irs.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irs.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irs.com\/en\/wp-json\/wp\/v2\/comments?post=2249"}],"version-history":[{"count":1,"href":"https:\/\/www.irs.com\/en\/wp-json\/wp\/v2\/posts\/2249\/revisions"}],"predecessor-version":[{"id":3316,"href":"https:\/\/www.irs.com\/en\/wp-json\/wp\/v2\/posts\/2249\/revisions\/3316"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.irs.com\/en\/wp-json\/wp\/v2\/media\/2250"}],"wp:attachment":[{"href":"https:\/\/www.irs.com\/en\/wp-json\/wp\/v2\/media?parent=2249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irs.com\/en\/wp-json\/wp\/v2\/categories?post=2249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irs.com\/en\/wp-json\/wp\/v2\/tags?post=2249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}