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How to Calculate 2022 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 2022 New Mexico state tax rate and the rules to calculate state income tax

5. Calculate your state income tax step by step

6. If you want to simplify payroll tax calculations, you can download ezPaycheck payroll software, which can calculate federal tax, state tax, Medicare tax, Social Security Tax and other taxes for you automatically. You can try it free for 30 days, with no obligation and no credt card needed.

Learn more about the in house payroll tax solution for New Mexico small businesses here.
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ezPaycheck: Small Business Payroll Solution


New Mexico State Tax Tables

Tax rate used in calculating New Mexico state tax for year 2022

State Abbreviation:

NM

State Tax Withholding State Code:

35

Acceptable Exemption Form:

None

Basis For Withholding:

Federal Exemptions

Acceptable Exemption Data:

None

TSP Deferred:

Yes

Special Coding:

None

Additional Information:

A state tax certificate is not required since Federal exemptions are used in the computation of the state formula.


Need a Better Way to Calculate New Mexico State Income Tax Withholdings?

Click here to view the step by step guide on
How to Calculate New Mexico State Income Tax Withholdings Automatically

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  • Withholding Formula >(New Mexico Effective 2022)<
    1. Subtract the nontaxable biweekly Thrift Savings Plan contribution from the gross biweekly wages.

    2. Subtract the nontaxable biweekly Federal Health Benefits Plan payment(s) (includes dental and vision insurance program and flexible spending account - health care and dependent care deductions) from the amount computed in step 1.

    3. Add the taxable biweekly fringe benefits (taxable life insurance, etc.) to the amount computed in step 2 to obtain the adjusted gross biweekly wages.

    4. Multiply the adjusted gross biweekly wages times 26 to obtain the gross annual wages.

    5. Apply the taxable income computed in step 4 to the following table to determine the annual New Mexico tax withholding.

    6. Tax Withholding Table
      Single or Head of Household

      If the Amount of
      Taxable Income Is:

      The Amount of New Mexico Tax
      Withholding Should Be:


      Over:

      But Not
      Over:

      blank
      blank
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      Of Excess
      Over:

      $          0 $>  6,475 $        0 plus 0.0% $         0
           6,475       11,975           0 plus 1.7% >   6,475
           11,975     17,475      93.50 plus 3.2%     11,975
         17,475     22,475    269.50 plus 4.7%   17,475
         22,475 <   32,475    504.50 plus 4.9%   22,475 <
         32,475 <   and over    994.50 plus 5.9%   32,475 <


      Married

      If the Amount of
      Taxable Income Is:

      The Amount of New Mexico Tax
      Withholding Should Be:


      Over:

      But Not
      Over:

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      blank
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      Of Excess
      Over:

      $         0 > 12,950 $   0.00 plus 0% $         0
          12,950    20,950      0.00 plus 1.7% >  12,950
        20,950    28,950   136.00 plus 3.2%   20,950
        28,950    36,950   392.00 plus 4.7%   28,950
        36,950 <   52,950   768.00 plus 4.9%   36,950 <
        52,950 <   and over   1,552.00 plus 5.9%   52,950 <

      Head of Household

      If the Amount of
      Taxable Income Is:

      The Amount of New Mexico Tax
      Withholding Should Be:


      Over:

      But Not
      Over:

      blank
      blank
      blank

      Of Excess
      Over:

      $         0 > 9,700 $   0.00 plus 0% $         0
          9,700    17,700      0.00 plus 1.7% >  9,700
        17,700    25,700   136.00 plus 3.2%   17,700
        25,700    33,700   392.00 plus 4.7%   25,700
        33,700 <   49,700   768.00 plus 4.9%   33,700 <
        49,700 <   and over   1,552.00 plus 5.9%   49,700 <

    7. Divide the annual New Mexico tax withholding by 26 to obtain the biweekly New Mexico tax withholding.


    More Payroll Information for New Mexico Small Business

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