Earned income credit in New Mexico
Varies
Does New Mexico Have an Earned Income Tax Credit?
Short answer: Yes: New Mexico offers the New Mexico Working Families Tax Credit, 25% of the federal EITC (refundable). ITIN filers eligible (based on the federal credit they would get with an SSN). Workers without children aged 18–24 also eligible. Residents only.
Claim the federal EITC on Form 1040 (with Schedule EIC if you have qualifying children); state credits go on your state return.
Records to keep: Keep your state return, W-2s and 1099s (1099-R, SSA-1099), and any state credit worksheets. Check your state revenue department's current-year instructions before you file.
Earned income credit in New Mexico
Varies
Individuals / Personal Taxes
Yes: New Mexico offers the New Mexico Working Families Tax Credit, 25% of the federal EITC (refundable). ITIN filers eligible (based on the federal credit they would get with an SSN). Workers without children aged 18–24 also eligible. Residents only.
Business justification
Yes: New Mexico offers the New Mexico Working Families Tax Credit, 25% of the federal EITC (refundable). ITIN filers eligible (based on the federal credit they would get with an SSN). Workers without children aged 18–24 also eligible. Residents only. Claim the federal EITC on Form 1040 (with Schedule EIC if you have qualifying children); state credits go on your state return.
Category
- Personal Tax Deductions