New Mexico Income Tax Calculator 2026
Calculate your New Mexico state income tax for 2026. New Mexico uses a progressive tax system with rates up to 5.9%.
Federal Income Tax
$7,670.00
Effective Tax Rate
10.23%
Marginal Tax Rate
22%
FICA (SS + Medicare)
$5,737.50
Total Tax Burden
$13,407.50
After-Tax Income
$61,592.50
Tax Calculation Breakdown
| Gross Income | $75,000.00 |
| Above-the-Line Deductions | - $0.00 |
| Adjusted Gross Income (AGI) | $75,000.00 |
| Standard Deduction | - $16,100.00 |
| Taxable Income | $58,900.00 |
| 10% on $0.00 – $12,400.00 | $1,240.00 |
| 12% on $12,400.00 – $50,400.00 | $4,560.00 |
| 22% on $50,400.00 – $105,700.00 | $1,870.00 |
| Federal Income Tax (before credits) | $7,670.00 |
| Federal Income Tax (after credits) | $7,670.00 |
| Social Security (6.2%) | $4,650.00 |
| Medicare (1.45%) | $1,087.50 |
| Total FICA | $5,737.50 |
| Total Tax | $13,407.50 |
| After-Tax Annual Income | $61,592.50 |
| Monthly Take-Home | $5,132.71 |
Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.
New Mexico Income Tax Overview
Under HB 252 (2024), effective January 1, 2025 and continuing for 2026, New Mexico uses six graduated brackets: 1.5%, 3.2%, 4.3%, 4.7%, 4.9% and a top rate of 5.9% on income over $210,000 (single) or $315,000 (married). The state conforms to the federal standard deduction.
New Mexico uses a Gross Receipts Tax (GRT) instead of a traditional sales tax. The state base rate is 4.875%, but local additions can bring the combined rate above 9% in some areas. GRT applies to services as well as goods.
New Mexico exempts Social Security benefits from state taxation and provides a low-income tax rebate. The state also exempts groceries from the gross receipts tax.
New Mexico's minimum wage of $12.00/hr applies statewide, but some cities like Santa Fe ($14.60/hr) and Albuquerque ($12.00/hr) have their own rates.
New Mexico has relatively low property taxes averaging 0.67%. The state has no estate tax, inheritance tax, disability insurance, or paid family leave programs.
New Mexico Income Tax Brackets 2026 (Single Filer)
| Taxable Income | Rate |
|---|---|
| $0 – $5,500 | 1.5% |
| $5,501 – $16,500 | 3.2% |
| $16,501 – $33,500 | 4.3% |
| $33,501 – $66,500 | 4.7% |
| $66,501 – $210,000 | 4.9% |
| Over $210,001 | 5.9% |
New Mexico Tax Snapshot
| Sales Tax | 0.04875% |
| Avg. Property Tax | 0.0067% |
| Minimum Wage | $12/hr |