NM
New Mexico Income Tax Guide
New Mexico has graduated income tax rates from 1.7% to 5.9%.
Top Tax Rate
5.9%
State income tax
Average Salary
$50,000
Annual average
Cost of Living
93
100 = national avg
Local Taxes
No
City/county taxes
Key Highlights
- Moderate tax rates
- Low cost of living
- Government jobs in Santa Fe
Major Cities
Albuquerque
Las Cruces
Rio Rancho
Santa Fe
Estimated Take-Home on $50,000
Gross Annual
$50,000
Federal Tax (est.)
-$6,000
State Tax (5.9%)
-$2,950
FICA (7.65%)
-$3,825
Net Take-Home
$37,225
$3,102/month
New Mexico Tax Calculator
Pre-filled with New Mexico's 5.9% top rate
Compare With Other States
See how New Mexico compares to nearby and similar states