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Regular military salaries of New Mexico residents serving in the U.S. military are subject to the income tax, but since 2007, active-duty military salaries have been exempt from the state income tax. [7] [8] Personal income tax rates for New Mexico range from 1.7% to 4.9%, within four income brackets. [9]
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.
Aug. 19—Choosing the right zip code in New Mexico can be challenging, but there are some resources that make settling down easier. Niche, an online data collection site that gathers and analyzes ...
Residents of New Mexico -- who have already gotten several tax breaks this year -- will soon get another round of tax rebates as the state prepares to send payments totaling either $250 or $500 to...
In 2005 the federal government spent $2.03 on New Mexico for every dollar of tax revenue collected from the state. This rate of return is higher than any other state in the United States. [21] The federal government is also a major employer in New Mexico providing more than a quarter of the state's jobs.
New Mexico Taxation and Revenue Department; Department overview; Type: Taxation & Revenue Services: Jurisdiction: State of New Mexico: Headquarters: 1100 South St. Francis Drive Santa Fe, New Mexico 87504-1028: Employees: 803: Annual budget: US$ 90,078,526.00 [1] Department executive
ZIP Code: 87004. Area code: 505: FIPS code: 35-06970: GNIS feature ID: 2411678 [2] Sales tax: 6.94% [5] ... The event brings in people from all of New Mexico as well ...
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 ...