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State income tax rates vary widely from state to state. States imposing an income tax on individuals tax all taxable income (as defined in the state) of residents. Such residents are allowed a credit for taxes paid to other states. Most states tax income of nonresidents earned within the state.
What is the personal income tax in New Mexico?
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. Personal income tax rates for New Mexico range from 1.7% to 5.9%, within five income brackets.
Is there personal income tax in Mexico?
Resident individuals are subject to Mexican income tax on their worldwide income, regardless of their nationality.
What is NM State Trust land?
This land, referred to as state trust land, was allocated to New Mexico by the Federal Government under the Ferguson Act of 1898 and the Enabling Act of 1910. The mission of the agency is to use state trust land to raise revenue for New Mexico public schools, hospitals, colleges, and other public institutions.
What is NM State Personal Income Tax?
New Mexico has a graduated state individual income tax, with rates ranging from 1.70 percent to 5.90 percent. New Mexico has a 5.9 percent corporate income tax rate. New Mexico also has a 4.88 percent state sales tax rate and an average combined state and local sales tax rate of 7.62 percent.
An individual income tax (or personal income tax) is levied on the wages, salaries, investments, or other forms of income an individual or household earns. The U.S. imposes a progressive income tax where rates increase with income.
Related links
Purchases Details - New Mexico Sunshine Portal
The Purchases Details pages provide information about state purchase orders (PO). POs are the final financial document prepared when the State buys goods or
The Purchasing Department serves as the central purchasing authority for the University of New Mexico. We issue all Purchase Orders for goods and services.
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