New Mexico Tax Calculator
The New Mexico (NM) Tax Calculator is updated for the 2026/27 tax year and estimates New Mexico state income tax, federal tax, and FICA/Medicare contributions. New Mexico uses a progressive income tax system with rates that vary based on income and filing status. This calculator helps residents, part-year residents, and nonresidents forecast their total tax and net pay for 2026/27.
New Mexico offers credits such as the Low- and Middle-Income Tax Credit and Child Day Care Credit. The tool allows you to see how these and other deductions can affect your overall tax bill and potential refund.
Quick Access Tools
Quick New Mexico Tax Calculator
Enter income and filing status, then select Calculate. Use advanced tabs to include deductions, dependents, and state-specific credits like the Low- and Middle-Income Tax Credit. You can also add federal withholdings and pre-tax savings to refine your calculation.
Input key: F Used in Federal tax calculations S Used in State tax calculations
How to Calculate Income Tax in New Mexico for 2026/27
- Enter your gross annual income and applicable adjustments.
- Select your filing status and indicate residency (resident, part-year, or nonresident).
- Click Calculate to see your estimated New Mexico and federal tax liability, take-home pay, and any expected refund.
Advanced Options
- Add dependents to estimate child or family-related credits.
- Include pre-tax deductions like IRA or 401(k) contributions.
- Enter federal and state withholdings to project refund or balance due.
- Explore eligibility for low-income or childcare credits under New Mexico tax law.
Related Calculators
Additional Resources
Frequently Asked Questions
Answers to common New Mexico filing questions, including resident versus nonresident rules, credits for low-income earners, and withholding guidelines.
Are military retirement benefits taxed in New Mexico?
No—New Mexico has phased in a military retirement exemption, allowing most or all benefits to be excluded by 2026.
Does New Mexico tax interest and dividends?
Yes—these are taxed as ordinary income with no special rate reductions.
Does New Mexico tax out-of-state income?
Yes—residents must report all worldwide income, but credits are given for taxes paid to other states.
Are alimony payments deductible or taxable?
New Mexico follows federal post-2019 rules—alimony is no longer deductible by the payer nor taxable to the recipient.
Are federal taxes deductible on my NM return?
No—federal income tax payments cannot be deducted on New Mexico returns.
Important Notes
All calculations are estimates for guidance only. Always review your return and consider professional advice when submitting official filings.