![]() This alignment with the federal system underscores the importance of being well-informed about federal tax laws and changes, as these directly and exclusively influence your tax responsibilities in New Mexico. For individuals and businesses in New Mexico, these Federal Tax Tables become the sole reference point for understanding how much tax is due on their income. They provide the necessary brackets and rates that will define your tax obligations. Given that the state adheres strictly to the Federal Income Tax system and does not levy its own income tax, these tables are the primary, and indeed only, guide to your income tax calculations for New Mexico in 2024. Federal Income Tax Tables in 2022Īs you review the Federal Income Tax tables presented here, it's crucial to understand their heightened significance for taxpayers in New Mexico. This unique approach simplifies the tax calculation process, as you only need to refer to the Federal Tax Tables to understand your tax responsibilities for 2024. This means that for residents or income earners in New Mexico, their tax obligations and 2025 tax return are determined entirely by the federal tax brackets and rates, without any additional state-level income tax considerations. Instead, all income tax calculations for the year 2022 are based solely on the Federal Income Tax system. New Mexico State Income Tax Tables in 2022Īs you navigate through the tax information for 2022 on this page, it's important to note that New Mexico does not impose its own income tax. Federal Retirement Plan Thresholds in 2022.
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