{
  "$comment": "New Mexico 2025: federal AGI − federal standard deduction − $4,000 × (dependents − 1) for MFJ/HoH − low- and middle-income exemption; six brackets 1.5%–5.9% (HB 252, 2024).",
  "country": "us",
  "jurisdiction": "us-nm",
  "taxYear": "2025",
  "period": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "tz": "America/Denver"
  },
  "status": "provisional",
  "engine": "us-payroll@1",
  "currency": "USD",
  "revision": 1,
  "params": {
    "incomeTax": {
      "kind": "brackets",
      "incomeBase": "stateWages",
      "brackets": {
        "single": [
          {
            "upTo": "5500",
            "rate": "0.015"
          },
          {
            "upTo": "16500",
            "rate": "0.032"
          },
          {
            "upTo": "33500",
            "rate": "0.043"
          },
          {
            "upTo": "66500",
            "rate": "0.047"
          },
          {
            "upTo": "210000",
            "rate": "0.049"
          },
          {
            "upTo": null,
            "rate": "0.059"
          }
        ],
        "mfj": [
          {
            "upTo": "8000",
            "rate": "0.015"
          },
          {
            "upTo": "25000",
            "rate": "0.032"
          },
          {
            "upTo": "50000",
            "rate": "0.043"
          },
          {
            "upTo": "100000",
            "rate": "0.047"
          },
          {
            "upTo": "315000",
            "rate": "0.049"
          },
          {
            "upTo": null,
            "rate": "0.059"
          }
        ],
        "mfs": [
          {
            "upTo": "4000",
            "rate": "0.015"
          },
          {
            "upTo": "12500",
            "rate": "0.032"
          },
          {
            "upTo": "25000",
            "rate": "0.043"
          },
          {
            "upTo": "50000",
            "rate": "0.047"
          },
          {
            "upTo": "157500",
            "rate": "0.049"
          },
          {
            "upTo": null,
            "rate": "0.059"
          }
        ],
        "hoh": [
          {
            "upTo": "8000",
            "rate": "0.015"
          },
          {
            "upTo": "25000",
            "rate": "0.032"
          },
          {
            "upTo": "50000",
            "rate": "0.043"
          },
          {
            "upTo": "100000",
            "rate": "0.047"
          },
          {
            "upTo": "315000",
            "rate": "0.049"
          },
          {
            "upTo": null,
            "rate": "0.059"
          }
        ]
      },
      "deductions": [
        {
          "type": "federalStandardDeduction",
          "id": "standard-deduction",
          "label": "Federal standard deduction (PIT-1 line 12)"
        },
        {
          "type": "perPerson",
          "id": "certain-dependents",
          "label": "Deduction for certain dependents ($4,000 per dependent after the first; MFJ/HoH only)",
          "filer": {
            "single": "0",
            "mfj": "0",
            "mfs": "0",
            "hoh": "0"
          },
          "perDependent": {
            "single": "0",
            "mfj": "4000",
            "mfs": "0",
            "hoh": "4000"
          },
          "excludeFirst": 1
        },
        {
          "type": "perPerson",
          "id": "low-middle-income-exemption",
          "label": "Low- and middle-income tax exemption (up to $2,500 per exemption)",
          "filer": {
            "single": "2500",
            "mfj": "5000",
            "mfs": "2500",
            "hoh": "2500"
          },
          "perDependent": "2500",
          "phaseout": {
            "single": {
              "threshold": "20000",
              "rate": "0.15",
              "floor": "0"
            },
            "mfj": {
              "threshold": "30000",
              "rate": "0.1",
              "floor": "0"
            },
            "mfs": {
              "threshold": "15000",
              "rate": "0.2",
              "floor": "0"
            },
            "hoh": {
              "threshold": "30000",
              "rate": "0.1",
              "floor": "0"
            }
          },
          "phaseoutPer": "perPerson"
        }
      ],
      "credits": []
    },
    "conformity": {
      "k401": true,
      "k403b": true,
      "k457": true,
      "hsa": true,
      "healthFsa": true,
      "dependentCareFsa": true,
      "section125": true
    },
    "programmes": []
  },
  "rounding": {
    "unit": "0.01",
    "mode": "halfUp",
    "stage": "perLine"
  },
  "knownCliffs": [],
  "notModelled": [
    "Official tax-table banding ($100 rows below $100,000; schedule above $100,000 ~ $2 lower than exact) — engine uses the exact rate schedule",
    "Refundable credits: low-income comprehensive tax rebate, working families tax credit, child income tax credit",
    "Workers' compensation fee (flat per-employee quarterly fee, part withheld from the employee)",
    "Age 65+/blind exemption, medical-care expense deduction, Social Security/retirement exemptions, itemized-deduction state-tax addback, other additions/subtractions",
    "Local taxes (New Mexico has no local income tax)"
  ],
  "sources": [
    {
      "field": "period",
      "url": "https://realfile.tax.newmexico.gov/2025pit-1-ins.pdf",
      "title": "New Mexico PIT-1 instructions 2025 — calendar-year return",
      "retrieved": "2026-10-07"
    },
    {
      "field": "params.incomeTax.kind",
      "url": "https://realfile.tax.newmexico.gov/2025pit-1-ins.pdf",
      "title": "New Mexico levies a personal income tax on residents' wages — PIT-1 line 9 — starts from federal adjusted gross income",
      "retrieved": "2026-10-07"
    },
    {
      "field": "params.incomeTax.incomeBase",
      "url": "https://realfile.tax.newmexico.gov/2025pit-1-ins.pdf",
      "title": "PIT-1 line 9 — starts from federal adjusted gross income",
      "retrieved": "2026-10-07"
    },
    {
      "field": "params.incomeTax.brackets",
      "url": "https://realfile.tax.newmexico.gov/2025trt.pdf",
      "title": "New Mexico 2025 Tax Rate Table (PIT-1) — tax table to $100,000 and schedule above: single 1.5% to $5,500, 3.2% to $16,500, 4.3% to $33,500, 4.7% to $66,500, 4.9% to $210,000, 5.9% over; MFJ/HoH 8,000/25,000/50,000/100,000/315,000; MFS 4,000/12,500/25,000/50,000/157,500",
      "retrieved": "2026-10-07",
      "note": "Rates/bands verified against the table rows (e.g. MFJ $25,300–25,400 → $679; single $210,000 → $9,746). The official schedule above $100,000 starts from the $99,950-midpoint table value, so it is about $2 lower than the exact rate schedule the engine applies."
    },
    {
      "field": "params.incomeTax.deductions.0",
      "url": "https://realfile.tax.newmexico.gov/2025pit-1-ins.pdf",
      "title": "PIT-1 line 12 — allowable federal standard deduction from federal Form 1040 line 12",
      "retrieved": "2026-10-07",
      "note": "2025 federal basic standard deduction (OBBBA) $15,750/$31,500/$23,625."
    },
    {
      "field": "params.incomeTax.deductions.1",
      "url": "https://realfile.tax.newmexico.gov/2025pit-1-ins.pdf",
      "title": "PIT-1 line 13 — deduction for certain dependents: HoH or MFJ filers deduct $4,000 × (total dependents − 1) (NMSA §7-2-39)",
      "retrieved": "2026-10-07",
      "note": "Modelled exactly: perDependent $4,000 for MFJ/HoH ($0 single/MFS) with excludeFirst 1 → $4,000 × (dependents − 1)."
    },
    {
      "field": "params.incomeTax.deductions.2",
      "url": "https://realfile.tax.newmexico.gov/2025pit-1-ins.pdf",
      "title": "PIT-1 line 14 / Low- and Middle-Income Tax Exemption Worksheet — per exemption $2,500 − rate × (AGI − base); base/rate: single $20,000/0.15, MFJ & HoH $30,000/0.10, MFS $15,000/0.20; only if AGI ≤ $36,667 / $55,000 / $27,500; exemptions = taxpayer, spouse and all dependents (NMSA §7-2-5.8)",
      "retrieved": "2026-10-07",
      "note": "Modelled exactly with phaseoutPer perPerson: each exemption ($2,500 per filer and per dependent) is reduced by rate × (AGI − base), floored at 0; the amount reaches 0 at the eligibility limit ($36,667 / $55,000 / $27,500), so the limit is implied."
    },
    {
      "field": "params.incomeTax.credits",
      "url": "https://realfile.tax.newmexico.gov/2025pit-1-ins.pdf",
      "title": "PIT-1 credits for a wage-only resident are refundable (low-income comprehensive tax rebate, working families tax credit, child income tax credit) — none modelled as nonrefundable credits",
      "retrieved": "2026-10-07"
    },
    {
      "field": "params.conformity",
      "url": "https://realfile.tax.newmexico.gov/2025pit-1-ins.pdf",
      "title": "New Mexico starts from federal AGI, so 401(k)/403(b)/457(b), HSA, FSA and §125 amounts excluded federally are excluded in New Mexico",
      "retrieved": "2026-10-07"
    },
    {
      "field": "params.programmes",
      "url": "https://www.dws.nm.gov/Portals/0/NM_UI_Employer_Handbook.pdf",
      "title": "NM Department of Workforce Solutions UI Employer Handbook — employers may not deduct unemployment contributions from employees' wages; New Mexico has no employee-paid wage-rated state payroll programme",
      "retrieved": "2026-10-07",
      "note": "The workers' compensation fee is a flat per-employee quarterly fee, not a wage-rated deduction — listed in notModelled."
    },
    {
      "field": "rounding",
      "url": "https://realfile.tax.newmexico.gov/2025trt.pdf",
      "title": "MoneyOtter rounds the exact rate-schedule tax to the cent (official tax table uses $100 rows below $100,000)",
      "retrieved": "2026-10-07"
    }
  ]
}