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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]
Businesses are taxed on Nevada gross receipts in excess of $4 million at a rate varying from 0.051% to 0.331%, depending upon economic sector. New Mexico - The gross receipts tax rate varies throughout the state from 5.125% to 8.6875% with local option taxes imposed at the city and county levels, added to the statewide base tax rate of 5%. [9]
Beginning in 2008, personal income tax rates for New Mexico range from 1.7% to 4.9%, within four income brackets. [42] Beginning in 2007, active-duty military salaries are exempt from the state income tax. [43] New Mexico imposes a gross receipts tax on businesses.
Jun. 10—New Mexico's economic activity continues to perform vibrantly, with matched taxable gross receipts, or MGTR, at their second-highest level ever, according to a recent report from the ...
New Mexico. Rhode Island ... federally taxed Social Security benefits on their state income tax returns since tax year 2022. ... those ages 55 to 64 with an adjusted gross income equal to or less ...
New Mexico, individual and corporate, from 1933; ... new state income taxes appeared at a somewhat slower pace, ... Gross Receipts Tax New Hampshire: 7.70% > $0
Your adjusted gross income is simply your total gross income minus certain adjustments. You can find these adjustments on Schedule 1 of Form 1040, under “Part II — Adjustments to Income.”
GSP is the Gross State Product ... New Mexico: $8,039,313,000 $3,867.52 10.1% 41 ... State income tax; Sales taxes in the United States;