New Mexico

2025 Tax Guide

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State income tax rates (2025)

Single Filers

Up to $5,4991.5%
$5,500 - $10,9993.2%
$11,000 - $15,9994.3%
$16,000 - $99,9994.7%
$100,000 - $209,9994.9%
$210,000+5.9%

Married Filing Jointly

Up to $7,9991.5%
$8,000 - $15,9993.2%
$16,000 - $23,9994.3%
$24,000 - $149,9994.7%
$150,000 - $314,9994.9%
$315,000+5.9%
State capital gains tax rates (2025)

Capital gains are taxed at the same rates as ordinary income.

Deductions/exemptions (2025)
Single:$14,600
Married Filing Jointly:$29,200
Dependent Exemption:$4,150
Notes
  • New 4.3% bracket added for 2025
  • Age 100+ complete exemption from state tax

Last updated: August 25, 2025

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