New Mexico collected $369 million in individual income taxes during the third quarter of 2022, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.
Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.
Overall, New Mexico collected $1.7 billion in combined tax revenues in the third quarter.
In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.
The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.
| Type of Tax | Amount (in millions of dollars) |
|---|---|
| Property Taxes | $3 |
| Sales and Gross Receipts Taxes | $1,082 |
| Income Taxes | $536 |
Source: U.S. Census Bureau
