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In the fourth quarter of 2020, $488 million was collected.
Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.
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.
Overall, New Mexico collected $3.8 billion in combined tax revenues in the fourth quarter of 2021.
Q4 New Mexico Tax Collections
| Type of Tax | Amount (in millions of dollars) |
|---|---|
| Property Taxes | $4 |
| Sales and Gross Receipts Taxes | $1,070 |
| License Taxes | $92 |
| Income Taxes | $594 |
| Other Taxes | $2,071 |
Source: U.S. Census Bureau
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