New Mexico reports $1.9 billion in combined tax revenues in Q1 2019


New Mexico collected $1.9 billion in total tax revenues for property, sales and gross receipts, licenses, income taxes and miscellaneous other taxes during the 1st quarter of 2019, according to a U.S. Census Bureau’s Quarterly Summary of State and Local Taxes which was released in June.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($714 million) and individual income taxes ($436 million).

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.

1st quarter New Mexico Tax Collection

Type of Tax
Amount (in millions of dollars)
Property Taxes
$47
Sales and Gross Receipts Taxes
$926
Income Taxes
$444
License Taxes
$96
Other Taxes
$345

Want to get notified whenever we write about State of New Mexico ?

Sign-up Next time we write about State of New Mexico, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

State of New Mexico

More News

Metro Business Network