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Most tax revenue came from sales and gross receipts taxes ($3.9 billion) and miscellaneous taxes ($1.5 billion).
The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.
The Census Bureau sets the tax classifications among the survey categories and cautions they may differ from the classifications set by the state governments.
Below is a breakdown of how taxes were classified by the bureau and how much was collected.
2020 New Mexico Tax Collections
| Type of Tax | Amount |
|---|---|
| Property taxes | $89,284,000 |
| Sales and gross receipts taxes | $3,935,006,000 |
| License taxes | $332,374,000 |
| Income taxes | $1,323,482,000 |
| Miscellaneous taxes | $1,469,859,000 |
| General sales and gross receipts taxes | $3,103,765,000 |
| Selective sales and gross receipts taxes | $831,241,000 |
| Alcoholic beverages sales tax | $20,061,000 |
| Amusements sales tax | $66,795,000 |
| Insurance premiums sales tax | $223,338,000 |
| Motor fuels sales tax | $230,303,000 |
| Pari-mutuels sales tax | $842,000 |
| Public utilities sales tax | $33,791,000 |
| Tobacco products sales tax | $95,080,000 |
| Other selective sales and gross receipts taxes | $161,031,000 |
| Alcoholic beverages license | $0 |
| Amusements license | $6,429,000 |
| Corporations in general license | $36,705,000 |
| Hunting and fishing license | $24,645,000 |
| Motor vehicle license | $209,574,000 |
| Motor vehicle operators license | $5,004,000 |
| Public utilities license | $1,710,000 |
| Occupation and business license, NEC | $48,307,000 |
| Other license taxes | $0 |
| Individual income taxes | $1,227,926,000 |
| Corporations net income taxes | $95,556,000 |
| Death and gift taxes | $0 |
| Documentarty and stock transfer taxes | $0 |
| Severance taxes | $1,415,606,000 |
| Taxes, NEC | $54,253,000 |
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