Our hourly paycheck calculator software is engineer tested for accuracy each time you use it. It also uses a constantly updated tax engine/database to ensure proper tax withholding and make the calculator even easier to use. All in all, you can count on our paycheck calculators to eliminate the stress and lost time that used to accompany your payroll process.
Here are three of the most frequently-asked-questions about our hourly paycheck calculator and New Mexico income taxes:
- Is there a state income tax in New Mexico?
Yes, New Mexico residents pay between 1.7% and 4.9% of their work earnings in state income tax.
- What is the required minimum wage rate in New Mexico?
The minimum wage rate in New Mexico is $9/hr.
- Does New Mexico tax capital gains differently than work income?
Yes. New Mexico allows for either 50% or $1,000 deduction in capital gains.