New Mexico State tax brackets in 2018

New MexicoNew Mexico's tax brackets haven't changed since last year. New Mexico has 4 tax brackets and 4 corresponding tax rates. The lowest tax rate is 1.70% and the highest tax rate is 4.90%.

The combined federal and state marginal tax rate in the highest income range is 41.90%.

The maximum standard deductions in 2018 are $12,000 for single, married filing separately and head of household tax filers, and $24,000 for married filing jointly tax filers.

New Mexico personal exemptions are reducing the taxable income. The amount of the exemption is $4,050 for single, $8,100 for married filing jointly, $4,050 for married filing separately and $4,050 for head of household tax filers.

The New Mexico Dependant Deduction is $4,050 in 2018, which is reducing the taxable income.

2018 New Mexico State tax brackets and tax rates

Taxable income Tax rate
$0 - $5,500 1.70%
$5,501 - $11,000 3.20%
$11,001 - $16,000 4.70%
$16,001 - 4.90%
Taxable income Tax rate
$0 - $8,000 1.70%
$8,001 - $16,000 3.20%
$16,001 - $24,000 4.70%
$24,001 - 4.90%
Taxable income Tax rate
$0 - $4,000 1.70%
$4,001 - $8,000 3.20%
$8,001 - $12,000 4.70%
$12,001 - 4.90%
Taxable income Tax rate
$0 - $8,000 1.70%
$8,001 - $16,000 3.20%
$16,001 - $24,000 4.70%
$24,001 - 4.90%

Combined Federal & New Mexico tax brackets and marginal tax rates 2018

Taxable income Federal rate State rate Combined rate
$0 - $5,500 10.00% 1.70% 11.70%
$5,501 - $9,525 10.00% 3.20% 13.20%
$9,526 - $11,000 12.00% 3.20% 15.20%
$11,001 - $16,000 12.00% 4.70% 16.70%
$16,001 - $38,700 12.00% 4.90% 16.90%
$38,701 - $82,500 22.00% 4.90% 26.90%
$82,501 - $157,500 24.00% 4.90% 28.90%
$157,501 - $200,000 32.00% 4.90% 36.90%
$200,001 - $500,000 35.00% 4.90% 39.90%
$500,001 - 37.00% 4.90% 41.90%
Taxable income Federal rate State rate Combined rate
$0 - $8,000 10.00% 1.70% 11.70%
$8,001 - $16,000 10.00% 3.20% 13.20%
$16,001 - $19,050 10.00% 4.70% 14.70%
$19,051 - $24,000 12.00% 4.70% 16.70%
$24,001 - $77,400 12.00% 4.90% 16.90%
$77,401 - $165,000 22.00% 4.90% 26.90%
$165,001 - $315,000 24.00% 4.90% 28.90%
$315,001 - $400,000 32.00% 4.90% 36.90%
$400,001 - $600,000 35.00% 4.90% 39.90%
$600,001 - 37.00% 4.90% 41.90%
Taxable income Federal rate State rate Combined rate
$0 - $4,000 10.00% 1.70% 11.70%
$4,001 - $8,000 10.00% 3.20% 13.20%
$8,001 - $9,525 10.00% 4.70% 14.70%
$9,526 - $12,000 12.00% 4.70% 16.70%
$12,001 - $38,700 12.00% 4.90% 16.90%
$38,701 - $82,500 22.00% 4.90% 26.90%
$82,501 - $157,500 24.00% 4.90% 28.90%
$157,501 - $200,000 32.00% 4.90% 36.90%
$200,001 - $300,000 35.00% 4.90% 39.90%
$300,001 - 37.00% 4.90% 41.90%
Taxable income Federal rate State rate Combined rate
$0 - $8,000 10.00% 1.70% 11.70%
$8,001 - $13,600 10.00% 3.20% 13.20%
$13,601 - $16,000 12.00% 3.20% 15.20%
$16,001 - $24,000 12.00% 4.70% 16.70%
$24,001 - $51,800 12.00% 4.90% 16.90%
$51,801 - $82,500 22.00% 4.90% 26.90%
$82,501 - $157,500 24.00% 4.90% 28.90%
$157,501 - $200,000 32.00% 4.90% 36.90%
$200,001 - $500,000 35.00% 4.90% 39.90%
$500,001 - 37.00% 4.90% 41.90%

New Mexico State standard deduction 2018

Filing status Standard deduction
Single $12,000
Married, filing jointly $24,000
Married, filing separately $12,000
Head of Household $12,000

New Mexico State Exemption 2018

Filing statusPersonal Exemption
Single $4,050
Married, filing jointly $8,100
Married, filing separately $4,050
Head of Household $4,050

New Mexico State Dependant exemption 2018

Dependant Deduction $4,050