New Mexico Paycheck Calculator
2026 New Mexico take-home pay after federal tax, state income tax, Social Security and Medicare.
New Mexico taxes at a glance (2026)
New Mexico has a graduated income tax with a standard deduction of $16,100 (single) / $32,200 (married). Taxes wage income. Graduated 6-bracket schedule (1.5%/3.2%/4.3%/4.7%/4.9%/5.9%) enacted by HB 252 (Laws 2024, Ch. 67), effective Jan 1, 2025 and continuing into 2026 — bottom rate cut from 1.7% to 1.5% and a new 4.3% bracket added. Single thresholds: 5500/16500/33500/66500/210000. MFJ (and HoH) thresholds: 8000/25000/50000/100000/315000. NO local/city income taxes (NM funds locally via Gross Receipts Tax, not a wage tax). NM conforms to the FEDERAL standard deduction (taxpayer enters federal Form 1040 line 12 on PIT-1), so 2026 amounts equal the OBBBA-adjusted IRS figures: $16,100 single / $32,200 MFJ ($24,150 HoH). Note: outdated sources still cite $14,600/$29,200 (pre-2025) — those are wrong for 2026. Social Security: exempt for AGI under $100,000 single / $150,000 MFJ (phases out above). Armed forces retirement pay deduction up to $30,000. HB 252 capped the capital-gains deduction at the greater of $2,500 or 40% of gains.
New Mexico income tax brackets and rates