Tax Foundation
Recent News About Tax Foundation
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Top marginal tax rate in New Mexico could reach 54.24% under Biden plan
Under Democrat Joe Biden’s federal tax plan, the top marginal tax rate in New Mexico could hit 54.24 percent, according to a new analysis by the Tax Foundation.
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New Mexico depends on property taxes for 19.7% of its state, local funds
New Mexico relies on property taxes for 19.7 percent of its total state and local revenues, according to a Tax Foundation ranking of the 50 states.
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New Mexico places tax of 41 cents per gallon on beer
State taxation on beer in New Mexico amounts to 41 cents per gallon, according to an analysis from the Tax Foundation based on January 2019 data.
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New Mexico collects $1.70 per gallon in wine taxes
The wine excise tax in New Mexico amounts to $1.70 per gallon, according to a Tax Foundation study based on January 2019 data.