New Mexico State Income Tax
New Mexico tax rate and standard deduction
New Mexico has four tax brackets. The lowest tax rate is 1.7%, the highest is 5.3%. See the New Mexico tax tables below.
| Taxable income | Tax rate |
|---|
| $1 - 5,500 | 1.7% |
| $5,501 - 11,000 | $93.5 + 3.2% income over $5,500 |
| $11,001 - 16,000 | $269.5 + 4.7% income over $11,000 |
| $16,001 and up | $504.5 + 5.7% income over $16,000 |
New Mexico Standard Deduction
Single or married filing seperately: $5,000
Married: $10,000
New Mexico Personal Exemptions
Yourself: $3,300
Your spouse: $3,300
Children / Dependents: $3,300
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