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New Mexico is among the "tax-friendly" states of the U.S., offering numerous economic incentives and tax breaks on personal and corporate income. [ 1 ] [ 2 ] It does not have inheritance tax , estate tax or franchise taxes .
Today property tax rates reflect the reality that in New Mexico many people are land rich and cash poor. Other components in the Tax Foundation’s 2024 State Business Tax Climate Index are mixed.
Jan. 15—New Mexico was among the top six states in a national scorecard on state tax appeals and procedural requirements assembled by the Council on State Taxation. New Mexico was awarded an A ...
WalletHub recently did an in-depth tax burden analysis by collecting data on individual income taxes, property taxes, and sales and gross receipts taxes. The least tax-friendly state in America ...
In 2005 the federal government spent $2.03 on New Mexico for every dollar of tax revenue collected from the state. This rate of return is higher than any other state in the United States. [21] The federal government is also a major employer in New Mexico providing more than a quarter of the state's jobs.
Montana has a relatively low tax burden with a property tax rate of 0.69%, no estate tax, and a 33.75 cent gas tax. Montana collects $5,065 in state and local tax collections per capita.
WalletHub recently did an in-depth tax burden analysis by collecting data on individual income taxes, property taxes, and sales and gross receipts taxes.
4. New Hampshire. State sales and average local tax: 0% State tax on Social Security: None Effective property tax: 1.96% Income tax rate (65+): 0% New Hampshire is one of the best places to live ...