Stephanie Schardin Clarke Tax Commissioner at New Mexico Taxation and Revenue Department | New Mexico Taxation and Revenue Department
Stephanie Schardin Clarke Tax Commissioner at New Mexico Taxation and Revenue Department | New Mexico Taxation and Revenue Department
Overall, New Mexico collected $3.2 billion in taxes during the first quarter of 2023, compared to $3.5 billion in the previous quarter.
The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($1.2 billion) and severance taxes ($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.
| Type of Tax | Amount (millions) |
|---|---|
| Sales and Gross Receipts Taxes | $1,193 |
| Other Taxes | $1,026 |
| Income Taxes | $796 |
| License Taxes | $101 |
| Property Taxes | $54 |
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