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The New Mexico Taxation and Revenue Department is the state agency responsible for collecting and distributing governmental revenue in New Mexico and administering the state's motor vehicle code. The Taxation and Revenue Department collects taxes within the state and also distributes revenue to support schools and state and local government ...
Personal income tax rates for New Mexico range from 1.7% to 4.9%, within four income brackets. [9] The individual income tax rates are listed in the table below. [10] Rate. Income. Heads of household, widow (er)s, and married persons filing jointly. 1.7%. $8,000 or less. $136 plus 3.2% of excess over $8,000.
The U.S. state of New Mexico first required its residents to register their motor vehicles and display license plates in 1912. As of 2023, plates are issued by the New Mexico Taxation and Revenue Department through its Motor Vehicle Division. Only rear plates have been required since 1961.
Dec. 11—Some 16,700 tax rebate checks from 2022 totaling $6 million were returned to the New Mexico Tax and Revenue Department as undeliverable. The checks were part of the three rounds of ...
Apr. 17—State lawmakers got a pinch of good financial cheer from a Legislative Finance Committee report that said New Mexico collected over $350 million more in revenue than expected in late 2023.
Since 2020, EMNRD reported 12,000 New Mexico homeowners received solar tax credits, saving about $1,624 per year on energy costs. The projects added a total of 97 megawatts to the state’s power ...
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.
New Mexico lawmakers passed a tax reform package to support renewable energy, but also gave an exemption to the state's smaller oil and gas drillers. ... Oil and gas revenue provided more than 40% ...
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