Advertisement

Think tank ranks New Mexico tax burden 37th

Created: 04/07/2014 7:38 AM
By: The Associated Press

SANTA FE (AP) - A national report ranks New Mexico 37th in the country for combined state and local taxes paid by its residents.
    
The conservative-leaning Tax Foundation said in a study released last week that New Mexicans paid 8.6 percent of their per-capita income in taxes to state and local governments in the 2011 fiscal year. That's lower than the national average of 9.8 percent.
    
The tax burden of New Mexicans has been dropping - from 8.7 percent in 2010, 8.8 percent in 2009 and 9.4 percent in 2008. New Mexico ranked 40th in 2010.
    
New York had the highest tax burden at 12.6 percent and Wyoming was the lowest at 6.9 percent.
    
The study measures taxes paid by individuals and businesses in their home states and directly or indirectly in other states.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
 


KOB welcomes a lively and courteous discussion as long as you follow the rules of conduct set forth in our Terms of Use. Comments are not pre-screened before they post. You agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Use.

Advertisement



Join Our Email List

Advertisement