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[1] [2] It does not have inheritance tax, estate tax or franchise taxes. While New Mexico does not have a state sales tax it does have a statewide "gross receipts tax", which is commonly passed on to the consumer by businesses just like a normal sales tax. [3] [4] [5] Its state income tax ranges from 1.7% to a maximum of 4.9%. [3]
Map of the world showing national-level sales tax / VAT rates as of October 2019. ... to 15% (5% federal tax + 10% provincial tax in New Brunswick) ... Taxation in Mexico
As of 2017, all but Saratoga, Warren, Washington and Westchester counties in New York charge a higher sales tax rate than the 3% default rate. The combined sales tax in Utica, for example, is 8.75%. In New York City, total sales tax is 8.875%, which includes 0.375% charged in the Metropolitan Commuter Transportation District (MCTD).
Corporate income tax. New Mexico has a 5.9% flat tax rate for corporations, which is the 28th highest in the nation, according to the tax department. ... payroll and sales.
If we pry our ranking apart, we also learn that we rank 11th for unemployment insurance taxes and 13th for corporate taxes. On the downside, New Mexico ranks 35th in sales taxes and 36th in ...
Sales tax: 7.00%. Aug. 2023 avg. new/used car price: $50,100/$27,558. ... Sales tax in New Mexico is quite high — the 16th-highest in the nation, as a matter of fact. But the state still scores ...
Median household income and taxes State Tax Burdens 2022 % of income. State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly.
This table lists the tax revenue collected from each state, plus the District of Columbia and the territory of Puerto Rico by the IRS in fiscal year 2011, which ran from October 1, 2010, through September 30, 2011.