Tax Rates 2024 New Mexico. You can quickly estimate your new mexico state tax and federal tax by selecting the tax year, your filing status, gross income and gross expenses, this is a great way to compare salaries. New mexico has decent income tax rates that max out at 5.9%, but most people pay the 4.9% tax rate.
New mexico levies a progressive state income tax ranging from 1.7% to 5.9%. 67), signed into law by new mexico’s governor michelle lujan grisham on march 6, includes changes to corporate and individual income taxes, as well as.