2014 New Mexico Income Tax Table
2013 - 2014
Tax Bracket (Single) Marginal Tax Rate
$0+ 1.70%
$5,500+ 3.20%
$11,000+ 4.70%
$16,000+ 4.90%
Tax Bracket (Couple) Marginal Tax Rate
$0+ 1.70%
$8,000+ 3.20%
$16,000+ 4.70%
$24,000+ 4.90%

New Mexico has eight marginal tax brackets, ranging from 1.70% (the lowest New Mexico tax bracket) to 4.90% (the highest New Mexico tax bracket). Each marginal rate only applies to earnings within the applicable marginal tax bracket.

In New Mexico, different tax brackets are applicable to different filing types. Married couples filing their New Mexico income tax return jointly will usually have wider tax brackets than those filing separately or as an individual.

Our New Mexico tax brackets have been updated for tax year 2013. States often adjust their tax brackets on a yearly basis, so make sure you are using the current 2013 tax brackets!

Your 2013 income tax return is due on April 15th, 2014. The IRS and New Mexico are now accepting eFiled returns and processing refunds, so you can start your online tax return today for free with TurboTax.

If you would like to file your New Mexico income tax return by mail, you can download 2013 New Mexico tax forms here.

What is my New Mexico tax bracket?

Technically, you don't have just one "tax bracket" - you pay all of the New Mexico marginal tax rates from the lowest tax bracket to the tax bracket in which you earned your last dollar. For comparison purposes, however, your New Mexico tax bracket is the tax bracket in which your last earned dollar in any given tax period falls.

You can think of the bracketed income tax as a flat amount for all of the money you earned up to your highest tax bracket, plus a marginal percentage of any amount you earned over that.

For earnings between $0.00 and $5,500, you'll pay 1.70%
For earnings between $5,500.00 and $11,000, you'll pay 3.20% plus $93.50
For earnings between $11,000.00 and $16,000, you'll pay 4.70% plus $269.50
For earnings over $16,000.00, you'll pay 4.90% plus $504.50
For earnings between $0.00 and $8,000, you'll pay 1.70%
For earnings between $8,000.00 and $16,000, you'll pay 3.20% plus $136.00
For earnings between $16,000.00 and $24,000, you'll pay 4.70% plus $392.00
For earnings over $24,000.00, you'll pay 4.90% plus $768.00

New Mexico Tax Estimator

You can use the income tax estimator to the left to calculate your approximate New Mexico and Federal income tax based on the most recent tax brackets.

Keep in mind that this estimator assumes all income is from wages, assumes the standard deduction, and does not account for tax credits.

For a more detailed estimate that takes these factors into account, click "View Detailed Estimate" (this will will redirect to an external website).

Deductions

When calculating your New Mexico income tax, keep in mind that the New Mexico state income tax brackets are only applied to your adjusted gross income (AGI) after you have made any qualifying deductions.

Qualifying deductions might include an itemized deduction, the New Mexico standard deduction, exemptions for dependants, business expenses, etc.

Remember that New Mexico may have very different deduction laws from the Federal Income Tax, so you may have to write a whole new list of deductions for your New Mexico income tax return.

Download New Mexico Tax Data
Download the New Mexico tax table for Excel or database applications Download a .CSV file of the New Mexico income tax brackets
Download tax forms Download or print New Mexico income tax forms
Where Our Tax Data Comes From
  1. The New Mexico tax brackets on this page were last updated from the New Mexico Department of Revenue in August, 2013. Please contact us if any of our New Mexico tax data is incorrect or out of date.
  2. New Mexico tax return forms are available from the TaxFormFinder.org or the New Mexico Department of Revenue.
  3. Before the official 2014 New Mexico income tax brackets are released, the brackets used on this page are an estimate based on the previous year's brackets. These numbers are subject to change if new New Mexico tax tables are released.
  4. The income tax estimator tool is provided by Tax-Rates.org.