New Mexico State Income Tax Data Sheet


© 2019

Tax Bracket (Single) [2] Tax Bracket (Couple) [3] Marginal Tax Rate
$0+ $0+ 1.70%
$5,500+ $8,000+ 3.20%
$11,000+ $16,000+ 4.70%
$16,000+ $24,000+ 4.90%

Some states, including New Mexico, increase, but don't double, all or some bracket widths for joint married filers. You are required to file a New Mexico tax return if the IRS requires you to file a federal tax return.

New Mexico State Income Tax Deductions

Income tax deductions are expenses that can be deducted from your gross pre-tax income before determining your taxable income.

New Mexico Standard Deduction

The New Mexico standard deduction is $6,200.00 for individuals and $12,400.00 for married couples filing jointly. The standard deduction may be chosen instead of filing an itemized deduction on your New Mexico tax return.

New Mexico Personal Exemptions

New Mexico's personal income tax exemptions include a personal exemption of $3,900.00. You can deduct one single exemption from your gross income if you are responsible for supporting yourself financially.

New Mexico Dependent Deduction

New Mexico has a dependent exemption of $3,900.00. You may claim one dependent exemption for each of the children, relatives, or others who live with and are supported by you as described § 152 of the IRC (Internal Revenue Code).

New Mexico Itemized Deductions

New Mexico allows itemized deductions, and you can claim the same itemized deductions on your New Mexico tax return as you do on your Federal tax return. You must choose between itemizing your deductions and choosing the New Mexico standard deduction, so it's generally only worth itemizing your deductions if your itemized total is more then the New Mexico and Federal standard deductions.

New Mexico State Income Tax Data Sheet


© 2019

Web Resources:

Taxation and Revenue Department Website:

New Mexico Tax Forms:

New Mexico Income Tax Information:

Important Tax Addresses: