2025 New Mexico Income Tax Brackets & Rates
Federal and state tax brackets, capital gains rates, and corporate tax rates for New Mexico in tax year 2025.
Federal Income Tax Brackets (2025)
| From | To | Rate |
|---|---|---|
| $0 | $11,925 | 10.00% |
| $11,925 | $48,475 | 12.00% |
| $48,475 | $103,350 | 22.00% |
| $103,350 | $197,300 | 24.00% |
| $197,300 | $250,525 | 32.00% |
| $250,525 | $626,350 | 35.00% |
| $626,350 | ∞ | 37.00% |
New Mexico State Income Tax Brackets (2025)
| From | To | Rate |
|---|---|---|
| $0 | $5,500 | 1.50% |
| $5,500 | $16,500 | 3.20% |
| $16,500 | $33,500 | 4.30% |
| $33,500 | $66,500 | 4.70% |
| $66,500 | $210,000 | 4.90% |
| $210,000 | ∞ | 5.90% |
Federal Capital Gains Tax Brackets (2025)
| From | To | Rate |
|---|---|---|
| $0 | $48,350 | 0.00% |
| $48,350 | $533,400 | 15.00% |
| $533,400 | ∞ | 20.00% |
Additional Information
- Federal Corporate Tax Rate
- 21.00%
- State Corporate Tax Rate
- 5.90%
- Federal Standard Deduction (Single)
- $15,750
Sources & Trust
Every figure above is traceable to a published source. Each source is rated by what published it, not by how confident we feel about it.
Federal (United States) — 2025
OfficialValues verified- Rate bracketsTier 1 · Primary authority
- Standard deductionTier 1 · Primary authority
- Capital gainsTier 1 · Primary authority
- Corporate rateTier 1 · Primary authority
4 sources— show— hide
Cited for Rate brackets · confirmed
Primary citation recorded with the tax table entry; coverage beyond the rate brackets is unconfirmed.
Cited for Rate brackets, Standard deduction, Capital gains · confirmed
Section 2.15(1): 2025 standard deduction for unmarried individuals = $15,000 (pre-OBBBA)
Cited for Standard deduction, Corporate rate · confirmed
Section 3.01: removes Rev. Proc. 2024-40 §2.15(1); restates 2025 amount as $15,750 under OBBBA §70102
Cited for Corporate rate · confirmed
Official U.S. Code text: flat 21% corporate rate under §11(b)
How we rate sources — tiers are derived from what published the document, not from our confidence in it.
New Mexico — 2025
OfficialValues verified- Rate bracketsTier 1 · Primary authority
- Standard deductionTier 4 · Restatement
- Capital gainsTier 2 · Official restatement
- Corporate rateTier 2 · Official restatement
6 sources— show— hide
Cited for Rate brackets · confirmed
Primary citation recorded with the tax table entry; coverage beyond the rate brackets is unconfirmed.
Cited for Rate brackets, Capital gains, Corporate rate · confirmed
Enacted bill text (HTRC substitute for HB 252, 2024 NM Legislature, Laws 2024 Ch. 67) amending NMSA 1978 §7-2-7 - primary/authoritative legislative source, fetched and read directly.
- Hb 252 New Mexico Bill Restructures Tax Brackets And Targets Capital…redw.comTier 3 · Expert secondary
Cited for Rate brackets · confirmed
Aggregator corroboration only
Cited for Rate brackets · confirmed
Aggregator corroboration only
Cited for Standard deduction, Capital gains · confirmed
Official 2025 PIT-1 instructions (tax.newmexico.gov), mirrored copy, describing the capital-gain deduction on Schedule PIT-ADJ
Cited for Corporate rate · confirmed
Official 2025 CIT-1 instructions (tax.newmexico.gov), mirrored copy, Line 20 instruction
How we rate sources — tiers are derived from what published the document, not from our confidence in it.