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Sandoval Economic Alliance

1201 Rio Rancho Blvd Suite C
Rio Rancho, NM 87124
P: +1 505-891-4305

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Data Name Value
State Tax Ranks (New Mexico)
Overall 25
Corporate Tax 21
Individual Income Tax 31
Sales Tax 41
Unemployment Insurance Tax 1
Property Tax 10
State Sales Tax Rates (New Mexico)
Sales Tax 5.130%
Are Localities Permitted to Define the Tax Base? No
State Unemployment Insurance Tax Rates (New Mexico)
Minimum 0.3300%
Maximum 6.4000%
Taxable Wage Base $24,300
Most Favorable Schedule - Minimum 0.3300%
Most Favorable Schedule - Maximum 6.4000%
Least Favorable Schedule - Minimum 2.7000%
Least Favorable Schedule - Maximum 6.4000%
State Property & Capital Stock Tax Rates (New Mexico)
Property Tax Collections Per Capita $770
Property Tax Collections - Percentage of Income 2.01%
Capital Stock Tax Rate None
Capital Stock Maximum Payment N/A
Payment Options for CST and CIT N/A
Real Estate Taxes
Median Real Estate Taxes Paid   $1,732
State Income Tax Rates (New Mexico)
Corporate  
≥ $0 4.800%
≥ $500,000 5.900%
Individual (Ordinary Income)  
≥ $0 1.700%
≥ $5,500 3.200%
≥ $11,000 4.700%
≥ $16,000 4.900%