1031 Exchange New Mexico

 

Capital Gains Rates

State Rate
4.90%
Local Rate
0%
Deduction
50% deductibility
Combined Rate
29.90%

Additional State Capital Gains Tax Information for New Mexico

The Combined Rate accounts for Federal, State, and Local tax rate on capital gains income, the 3.8 percent Surtax on capital gains and the marginal effect of Pease Limitations (which results in a tax rate increase of 1.18 percent). The Combined Rate also accounts for New Mexico permitting of a 50% State deduction of Federally taxable capital gains.

Additional State Income Tax Information for New Mexico

Tied to federal tax system, plus an additional $2,500 if federal AGI is equal to or less than $36,667 (single) or $55,000 (married filing jointly).

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Source: CCH Smart Charts™ for Federal, State Income Tax Treatment. Data as of June 2018

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