New Mexico Standard Deduction
The New Mexico standard deduction is a flat amount you can subtract from your gross income before New Mexico income tax is calculated, instead of itemising individual deductions. This page shows the New Mexico standard deduction for tax year 2024 by filing status, sourced directly from the New Mexico Taxation and Revenue Department, and calculates your New Mexico taxable income after the deduction. Enter your gross income and choose your filing status to see the deduction that applies and the taxable income that remains. Most filers take the standard deduction because it is simpler and, for many, larger than their itemisable deductions. You should itemise only if your allowable New Mexico itemised deductions add up to more than the standard amount. The standard deduction is separate from the federal standard deduction the IRS applies to your federal return, and from any personal exemptions or credits New Mexico provides. Use this alongside the New Mexico income tax calculator to see how the deduction flows through to your final state tax. All figures here are the official published amounts; nothing is estimated.
The New Mexico standard deduction for 2024 is $14,600.00 (single) and $29,200.00 (married filing jointly). On $60,000.00 of gross income, a single filer has $45,400.00 of New Mexico taxable income.
New Mexico standard deduction by filing status (2024)
| Filing status | Standard deduction | Source |
|---|---|---|
| Single | $14,600.00 | New Mexico Taxation and Revenue Department |
| Married filing jointly | $29,200.00 | New Mexico Taxation and Revenue Department |
| Head of household | $21,900.00 | New Mexico Taxation and Revenue Department |
| Married filing separately | $7,300.00 | New Mexico Taxation and Revenue Department |
New Mexico conforms to the federal standard deduction for tax year 2024. Federal amounts: single $14,600, married filing jointly $29,200, head of household $21,900, married filing separately $7,300.
Formula
taxable income = max(0, gross income - standard deduction for your filing status)
New Mexico standard deduction: frequently asked questions
What is the New Mexico standard deduction for 2024?
For tax year 2024, the New Mexico standard deduction is $14,600.00 for single filers and $29,200.00 for married couples filing jointly, as published by the New Mexico Taxation and Revenue Department. It is subtracted from your gross income to give your New Mexico taxable income.
How does the New Mexico standard deduction affect my tax?
The standard deduction lowers your New Mexico taxable income, which is the figure the state income tax brackets are applied to. A single filer with $60,000.00 of gross income and the $14,600.00 standard deduction has $45,400.00 of New Mexico taxable income before any other adjustments.
Should I take the New Mexico standard deduction or itemise?
Take whichever is larger. If your total itemised deductions allowed by New Mexico exceed the standard deduction of $14,600.00 (single) or $29,200.00 (married jointly), itemising lowers your taxable income more. Otherwise the standard deduction is simpler and larger. Check the rules with the New Mexico Taxation and Revenue Department.
Is Social Security income taxed in New Mexico?
New Mexico exempts Social Security income from state income tax for taxpayers whose adjusted gross income is under $100,000 (regardless of filing status). Taxpayers with AGI at or above $100,000 may owe New Mexico income tax on their Social Security benefits. Confirm current thresholds with the New Mexico Taxation and Revenue Department.
What is New Mexico's top income tax rate?
New Mexico's top marginal income tax rate is 5.9%, which applies to taxable income over $210,000 for single filers, over $315,000 for married filing jointly and head of household, and over $157,500 for married filing separately.
Does New Mexico conform to federal tax rules?
New Mexico uses federal adjusted gross income as the starting point for calculating New Mexico taxable income and conforms to the federal standard deduction. Some modifications apply, such as the Social Security income exemption for lower-income filers.
Does New Mexico have a local income tax?
No. New Mexico does not impose local or municipal income taxes. Only the statewide graduated income tax applies.
Official sources
- New Mexico standard deduction (tax year 2024): New Mexico Taxation and Revenue Department, as at Jun 12, 2026.
Reviewed by the CalculatorHub team, edited by James Graham, 25 June 2026. See our methodology. General information, not financial or tax advice.