Here are the 41 states that don’t tax Social Security income: ...

Annual income tax would decrease by $16, or 12%, to $136 for a couple with taxable income of $8,000, the agency said. A wealthier couple with an annual taxable income of $400,000 would save about ...

New Mexico state tax: Overview. New Mexico’s income tax tops out at 5.9 percent, but there’s a unique perk for those who hit a major milestone. ... New Mexico has a 4.88% sales tax rate.

Nine states — Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming — do not have an income tax. One caveat to note: Washington has a tax rate of 7% to ...

Nebraska's income tax rate was cut to 5.2%, down from 5.84% last year. New Mexico will retain its graduated income tax rate, with two of its six income brackets seeing a decrease in 2025.

Note: Connecticut and New York practice tax-benefit recapture, where some high earners pay the top tax rate on all of their eligible income. Factors affecting state income tax rates. How much you ...

New Mexico; North Carolina; ... This state technically has two income tax rates but one of them is 0%. It applies to income under $10,000. All income over $10,000 is taxed at 4.4% as of 2025.

New Mexico ranks around the middle of the pack in terms of income tax, with a max marginal individual income tax rate set at 5.9%, according to an analysis by the Tax Foundation.

SANTA FE, N.M. (AP) — Efforts by New Mexico to save and invest portions of a financial windfall from local oil production are paying off as state government income on investments surpasses ...