Overall, New Mexico collected $3.1 billion in taxes during the first quarter of 2022, compared to $3.8 billion in the previous quarter.
The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($1.1 billion) and severance taxes ($1.1 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 the state governments.
Q1 New Mexico Tax Collections
| Type of Tax | Amount (millions) |
|---|---|
| Sales and Gross Receipts Taxes | $1,077 |
| Other Taxes | $1,055 |
| Income Taxes | $782 |
| License Taxes | $100 |
| Property Taxes | $51 |
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