State income tax · New Mexico
New Mexico income tax rates
New Mexico's income tax on wages: the rate structure, the brackets and the source for each figure.
Data: Tax year 2026 (where a state has not published 2026 brackets yet, its latest published year, labelled on the row) Sources read Review by
CheckedOct 19, 2026These are the figures for tax year 2026.
- Structure
- Graduated brackets
- Top rate
- 5.9%
- Lowest rate
- 1.5%
- Brackets (single)
- 6
- Local income taxes
- None noted
Brackets
Each rate applies only to the part of taxable income above its threshold and up to the next one; that is what a graduated schedule means. Taxable income is the state's own measure, after its deductions and exemptions.
| Taxable income over | Rate on income above that amount |
|---|---|
| $0 | 1.5% |
| $5,500 | 3.2% |
| $16,500 | 4.3% |
| $33,500 | 4.7% |
| $66,500 | 4.9% |
| $210,000 | 5.9% |
| Taxable income over | Rate on income above that amount |
|---|---|
| $0 | 1.5% |
| $8,000 | 3.2% |
| $25,000 | 4.3% |
| $50,000 | 4.7% |
| $100,000 | 4.9% |
| $315,000 | 5.9% |
Notes
HB 252 (2024) rewrote NMSA 7-2-7 with six fixed, non-indexed brackets for any taxable year beginning on or after January 1, 2025. The department's 2026 withholding tables (FYI-104) use the same 1.5% to 5.9% rates.
Sources
We read each source on the date shown and quote the line we relied on.
- NMSA 1978, 7-2-7 (Individual income tax rates), as amended by 2024 HB 252, section 5 (external site)
for any taxable year beginning on or after January 1, 2025:
- NMSA 7-2-7 B (single individuals) (external site)
Over $210,000 $9,748 plus 5.9% of
- FYI-104 New Mexico Withholding Tax, Effective January 1, 2026 (external site)
Effective January 1, 2026