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jimena77
April 12, 2025
Question

What is not taxable in new mexico?

  • April 12, 2025
  • 1 reply
  • 0 views
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    1 reply

    DawnC
    DawnC
    Employee
    April 12, 2025

    Personal income tax in New Mexico starts with the Federally Adjusted Gross Income (FAGI) from your federal return.  You are then able to use the Form PIT-1 to make any adjustment necessary in claiming exemptions or deductions allowed by New Mexico law.   The Form PIT-1 also has many credits and rebates as specified in the instructions below.

     

    New Mexico Forms and Publications

    New Mexico General Tax Info and FAQs

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