New Mexico state income tax
Varies
Can You Write Off New Mexico state income tax?
Short answer: For 2026 New Mexico uses six brackets of 1.5%, 3.2%, 4.3%, 4.7%, 4.9% and 5.9% (single thresholds $5,500/$16,500/$33,500/$66,500/$210,000; MFJ/HoH $8,000/$25,000/$50,000/$100,000/$315,000).
Social Security income is fully exempt if AGI is $100,000 or less (single), $150,000 or less (MFJ/HoH/surviving spouse) or $75,000 or less (MFS), with no partial exemption above those caps. State and local income, sales, and property taxes share one SALT cap ($40,400 for 2026, reduced above about $505,000 of income) and only help if you itemize.
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.
New Mexico state income tax
Varies
Individuals / Personal Taxes
For 2026 New Mexico uses six brackets of 1.5%, 3.2%, 4.3%, 4.7%, 4.9% and 5.9% (single thresholds $5,500/$16,500/$33,500/$66,500/$210,000; MFJ/HoH $8,000/$25,000/$50,000/$100,000/$315,000).
Business justification
For 2026 New Mexico uses six brackets of 1.5%, 3.2%, 4.3%, 4.7%, 4.9% and 5.9% (single thresholds $5,500/$16,500/$33,500/$66,500/$210,000; MFJ/HoH $8,000/$25,000/$50,000/$100,000/$315,000). Social Security income is fully exempt if AGI is $100,000 or less (single), $150,000 or less (MFJ/HoH/surviving spouse) or $75,000 or less (MFS), with no partial exemption above those caps. State and local income, sales, and property taxes share one SALT cap ($40,400 for 2026, reduced above about $505,000 of income) and only help if you itemize.
Category
- Personal Tax Deductions