Statutes > New Mexico Statutes > Chapter 7 - Taxation. > Article 2A - Corporate Income and Franchise Tax, 7-2A-1 through 7-2A-26. > Section 7-2A-5 - Corporate income tax rates.

Section 7-2A-5 - Corporate income tax rates.

7-2A-5. Corporate income tax rates.

The corporate income tax imposed on corporations by Section 7-2A-3 NMSA 1978 shall be at the rates specified in the following table:   

    If the net income is: The tax shall be  Not over $500,000 4.8% of net income   Over $500,000 but not over $1,000,000 $24,000 plus 6.4% of excess over $500,000  Over $1,000,000 $56,000 plus 7.6% of excess over $1,000,000.