New Mexico Paycheck Calculator

Calculate your take home pay after federal & New Mexico taxes

Updated for 2023 tax year on Jan 01, 2023

What was updated? 2023 federal FICA, income tax rates & standard deduction

Calculation not correct? Request new features?

Paycheck calculators by state

New Mexico state income tax

New Mexico has a population of over 2 million (2019) and oil drilling, mineral extraction, tourism, and federal government spending are drivers of the state economy. The median household income is $46,744 (2017).

Brief summary:

  • the income tax rate ranges from 1.7% to 5.9%
  • no state-level payroll tax
  • has standard deductions and exemptions
New Mexico United States

From Wikipedia

New Mexico tax year starts from July 01 the year before to June 30 the current year. So the tax year 2022 will start from July 01 2021 to June 30 2022.

Calculating your New Mexico state income tax is similar to the steps we listed on our Federal paycheck calculator:

  1. figure out your filing status
  2. work out your adjusted gross income [Net income – Adjustments = Adjusted gross income]
  3. calculate your taxable income [Adjusted gross income – (Standard/Itemized deductions + Exemptions) = Taxable income]
  4. understand your income tax liability [Taxable income × Income tax rate = Income tax liability]
  5. minus any tax liability, deductions, withholdings [Net income – (Income tax liability + Pre-tax deductions + Post-tax deductions + Withholdings) = Your paycheck]

State payroll tax

There is no state-level payroll tax.

State income tax brackets

Each filer type has different progressive tax rates. Refer to Tax Foundation for more details.

Tax year Filing status Taxable income Rate
2022
2021
Single $0 – $5,500 1.70%
$5,500 – $11,000 3.20%
$11,000 – $16,000 4.70%
$16,000 – $210,000 4.90%
$210,000+ 5.90%
Married, Filing Jointly or Widow(er)
Head of Household
$0 – $8,000 1.70%
$8,000 – $16,000 3.20%
$16,000 – $24,000 4.70%
$24,000 – $315,000 4.90%
$315,000+ 5.90%
Married, Filing Separately $0 – $4,000 1.70%
$4,000 – $8,000 3.20%
$8,000 – $12,000 4.70%
$12,000 – $157,500 4.90%
$157,500+ 5.90%
2020 Single $0 – $5,500 1.70%
$5,500 – $11,000 3.20%
$11,000 – $16,000 4.70%
$16,000+ 4.90%
Married, Filing Jointly or Widow(er)
Head of Household
$0 – $8,000 1.70%
$8,000 – $16,000 3.20%
$16,000 – $24,000 4.70%
$24,000+ 4.90%
Married, Filing Separately $0 – $4,000 1.70%
$4,000 – $8,000 3.20%
$8,000 – $12,000 4.70%
$12,000+ 4.90%

State standard deduction

Tax year Filing status Standard deduction amount
2022 Single
Married, Filing Separately
$12,950
Married, Filing Jointly $25,900
Head of Household $19,400
2021 Single
Married, Filing Separately
$12,550
Married, Filing Jointly $25,100
Head of Household $18,800
2020 Single
Married, Filing Separately
$12,200
Married, Filing Jointly $24,400
Head of Household $18,350

State exemptions

There is state-level exemptions for all type of filers and dependents. Refer to Tax Foundation for more details.

Tax year Filing status Personal exemption amount
2022
2021
Dependent(s) $4,000
2020 Dependent(s) $4,050

FAQs

What taxes do New Mexican pay?

On top of the federal income tax, the income tax rate in New Mexico ranges from 1.7% to 5.9%. There is no state-level payroll tax.

How much do you make after taxes in New Mexico?

A single filer will take home $38,135.05 if he earns an annual wage of $47,000.
The take home pay of a married couple with a combined income of $94,000 is $76,119.10.

How much taxes are deducted from a $47,000 paycheck in New Mexico?

The total taxes deducted for a single filer are $738.75 monthly or $340.96 bi-weekly.