New Mexico collected $4.1 billion in income, license, miscellaneous other, property and sales and gross receipts taxes during the second quarter of 2025, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.
This represents a 10.9% increase over the same quarter of the previous year, when combined tax revenues were $3.7 billion.
The majority of the state’s tax revenue was collected through sales and gross receipts taxes ($1.5 billion) and miscellaneous other taxes ($1.2 billion).
In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.
The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by state governments.
| Type of Tax | Amount (millions) |
|---|---|
| Sales and Gross Receipts Taxes | $1,526 |
| Other Taxes | $1,233 |
| Income Taxes | $1,158 |
| License Taxes | $146 |
| Property Taxes | $64 |
