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Overall, New Mexico's combined tax revenues reached $3.2 billion during the year, as of second quarter of 2023.
Sales and gross receipt taxes include taxes on licenses, alcohol, amusements, insurance, fuel, parimutuels, public utilities and tobacco products.
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.
Q2 2023 New Mexico Tax Collections
| Type of Tax | Amount (millions) |
|---|---|
| License Taxes | $138 |
| Sales and Gross Receipts Taxes | $1,228 |
| Property Taxes | $60 |
| Income Taxes | $662 |
| Other Taxes | $1,103 |
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