New Mexico Score and Ranking Economic Profile Governor: Michelle Lujan Grisham, Democrat Population: 2,114,371 GDP growth (Q1 2024): 2.6% Unemployment rate (May 2024): 3.8% Top corporate tax rate: 5.9% Top individual income tax rate: 5.9% Gasoline tax: 37.28 cents/gallon Bond rating (Moody...
Withholding Tax Tables Supplemental Wage / Bonus Rate :5.9% Register as an employer on theNew Mexico Taxation and Revenue website Employee's Withholding Tax Exemption Certificate :Federal Form W-4 New Mexico does not have their own withholding form. The state continues to use federal form W-4...
The maximum local tax rate allowed by New Mexico law is 7.125%. You can lookup New Mexico city and county sales tax rates here. This page provides an overview of the sales tax rates and laws in New Mexico. If you are a business owner and need to learn more about things like getting ...
(New Mexico’s corporate tax rate ranges from 4.8% to 5.9%.) Corporations must appoint boards of directors, hold regular meetings, and submit to more strenuous tax reporting. Obtaining a federal employer identification number (EIN) Any business that legally incorporates or hires employees needs a...
The New Mexico Department of Revenue has recently clarified rules regarding the application of the gross receipts tax to digital advertising services on websites accessible within the state. News & Tips New Mexico Gross Receipts Tax Rate Drops to 4.875% on July 1, 2023 ...
How to Calculate 2020 New Mexico State Income Tax by Using State Income Tax Table 1. Find your income exemptions 2. Find your pretax deductions, including 401K, flexible account contributions ... 3. Find your gross income 4. Check the 2020 New Mexico state tax rate and the rules to calcu...
Sales Tax Calculator | Sales Tax Table New Mexico (NM) Sales Tax Rate ChangesThe following are recent sales tax rate changes in New Mexico. Old rates were last updated on 1/1/2019. New rates were last updated on 1/1/2020. PlaceOld RateNew Rate Bosque Farms 8.1875% 8.5500% Clayton ...
This is required because the New Mexico Department of Workforce Solutions requires us to include each employee’s Reporting Unit Number in the unemployment insurance (UI) tax filing (Form ES-903A) due each quarter.You can find all active Reporting Unit Numbers for your business online....
alue-Added Tax".]]>The article focuses on the most significant aspects of the new Single Rate Business Tax (IETU), an alternative minimum tax often referred to as the "Flat Tax" which was approved by the Mexican Congress on October 1, 2007. It discusses the potential impact of the IETU...
The article presents information on the impact of Mexico's new tax system on taxpayers in the country. After many years trying to raise tax collections in Mexico without significant success, Mexico's recently elected president, Felipe Calderon, was able to pass an innovative tax reform which ...