New Mexico has one of the lowest property tax rates in the nation which is a considerable advantage for high capital investment projects. New Mexico also offers a number of attractive incentive programs and tax breaks for new job creation. The City of Las Cruces and Doña Ana County often augment these state programs with the Local Economic Development Act. These programs coupled with recent passage of legislation reducing the top corporate income tax rate to 5.9% make the New Mexico Borderplex an attractive location for your business expansion. An overview and examples of how these incentives may apply to your business is available in a printable format on our Popular Downloads page. Contact one of our team members to find out more about the advantages of the New Mexico Borderplex.
| Tax Rates | |
| Sales Tax (Gross Receipts) | |
| Mesilla | 7.8125% |
| Sunland Park | 7.6875% |
| Las Cruces | 7.5625% |
| City of Las Cruces TID District | 7.5625% |
| Hatch | 7.4375% |
| Anthony | 7.2500% |
| Remainder of County | 6.3750% |
| Effective Property Tax Rate | |
| Low | 0.7787% |
| High | 1.3512% |
| Personal Income Tax Rate | |
| Low | 1.70% |
| High | 4.90% |
| Corporate Income Tax | |
| Low | 4.80% |
| High | 7.60% |
| Franchise Tax | $50 |
| Inventory Taxed | No |
| Unemployment | 2.00% |
| Taxable Wage Base | $20,900 |
| Workers Comp (per employee per quarter) | $2.30 |
| Source: Research Institute of America, All States Tax Handbook, 2007; Federation of Tax Administrators, Dona Ana County Assessor’s Office 2010, NM Department of Taxation & Revenue, 2010. | |