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The Tax Foundation is the nation’s leading independent tax policy nonprofit. Since 1937, our principled research, insightful analysis, and engaged experts have informed smarter tax policy at the federal, state, and global levels. For over 80 years, our goal has remained the same: to improve lives through tax policies that lead to greater economic growth and opportunity.
Each state’s tax code is a multifaceted system with many moving parts, and New Mexico is no exception. The first step towards understanding New Mexico’s tax code is knowing the basics.
How does New Mexico rank? Below, we have highlighted a number of tax rates, ranks, and measures detailing New Mexico’s income tax, business tax, sales tax, and property tax systems. Click the tabs below to explore!