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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 5.9%, within five 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.
ZIP Codes: 88101, 88102, 88103. Area code: 575: FIPS code: 35-16420: GNIS feature ID: 0915815 [3] Sales tax: 7.94% [6] ... Like most of east-central New Mexico and ...
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.
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 ...
New Mexico state income tax rates range from 1.70 percent to 5.90 percent. As of the 2022 tax year, most seniors in New Mexico are exempt from Social Security taxes, thanks to changes in the law.
ZIP codes: 87401, 87402, 87499. Area code ... New Mexico, 1991–2020 normals, extremes 1978–present ... although state and local government bonds and other tax ...
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...
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