{{ AFP National Site
s

Newsroom

NM State Taxes and Government Spending

August 22, 2013

New Mexico’s state spending has increased by 966% from 1960 to 2009 after accounting for inflation. During the same time, New Mexico’s debt grew by 2,067%.Source: U.S. Census Bureau

 • In 2011, New Mexico was ranked 28th for friendliness to entrepreneurship. Source: Small Business Entrepreneurship Council

 • In 2012, New Mexico was ranked 38th for state business tax climate. Source: Tax Foundation

 • New Mexico has almost $11.8 billion in unfunded retiree pensions and health care benefits. Source: Pew Center on the States

 • As of 2009, only 64.8% of freshmen in New Mexico graduate high school. Source: National Center for Education Statisticst

 • New Mexico is the 6th largest recipient of federal funds per capita among the states. Source: U.S. Census Bureau

• 41.8% of New Mexico’s land is owned by the federal government. Source: Heritage Foundation

• New Mexico levies the highest gross receipt tax in the nation onto businesses, at a top rate of 8.6875% per purchase. Source: New Mexico Taxation and Revenue Department

• New Mexicans work until April 12th every year to pay their federal, state, and local tax obligations and work until July 13th every year to pay for the cost of federal, state, and local spending and regulation. Source: Tax Foundation and Americans for Tax Reform

 

Like this post? Chip in $5 to AFP.

Join Our Fight

The road to economic freedom starts here.
Join a network of AFP activists in important issue battles across the country, get the inside scoop with breaking news updates and policy alerts, and be the first to hear about special events near your home.  Help us fight for a better tomorrow.  Together, we can work for lower taxes, less government spending, and greater economic freedom for everyone.

Your Information

[contact-form-7 id="544" title="Subscribe"] ×