New Mexico Paycheck Calculator
Four brackets from 1.7% to 4.9% with a $6,300 deduction and low cost of living.
New Mexico has four income tax brackets from 1.7% to 4.9%, with a $6,300 standard deduction for single filers.
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Estimates only. Not tax or legal advice. Consult a tax professional for accuracy.
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New Mexico Paycheck FAQ
Common questions about paychecks and taxes in New Mexico
What is the New Mexico state income tax rate?
New Mexico has four income tax brackets: 1.7% on the first $5,500 (single), 3.2% up to $11,000, 4.7% up to $16,000, and 4.9% on income over $16,000. A $6,300 standard deduction applies.
Does New Mexico tax Social Security?
New Mexico has been phasing in exemptions for Social Security benefits. Most recipients now qualify for a partial or full exemption from state income tax.
How does New Mexico compare to its neighbors?
New Mexico's 4.9% top rate is higher than Arizona (2.5% flat), Colorado (4.4% flat), and neighboring Texas and Oklahoma. However, the $6,300 standard deduction helps reduce the effective rate for lower earners.
Is New Mexico a low-cost state?
New Mexico has below-average costs for housing and everyday expenses. Paired with moderate income tax rates, your net pay goes further than in neighboring Arizona's higher-cost metro areas.
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