Finance · New Mexico · Tax year 2026

New Mexico Self-Employment Tax Calculator 2026

On $100,000 of 2026 self-employment profit, a single New Mexico sole proprietor with no other income owes about $25,587: $14,130 of self-employment tax, $8,235 of federal income tax, and $3,223 of New Mexico income tax. That is 25.6% of profit, or $6,397 for each quarterly estimated payment.

Against its neighbors, the same $100,000 of profit costs $414 more in Oklahoma and $3,223 less in Texas.

State income tax: 1.5% to 5.9%
New Mexico tax on $100,000: $3,223
National rank: #29 highest of 51
Set aside on $100,000: 25.6%
State estimated payments: Form PIT-ES
LLC filing fee: $50
Gross receipts tax: 4.875% + local

State

New MexicoChange state

Net self-employment profit (2026)

Other income (W-2 wages, spouse, interest)

More options

Retirement + health insurance deductions

Local income tax rate (optional)

Service business (consulting, law, health, accounting, financial services, performing arts). Only matters for the QBI deduction at higher incomes.

Enter your net profit — revenue minus business expenses — to see how much to set aside and what to pay each quarter.

A 2026 planning estimate using the standard deduction, not a tax return: it ignores credits, itemized deductions, and AMT. All calculations happen in your browser. Nothing is stored.

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New Mexico self-employment tax at common profit levels

2026 estimates for a single filer with no other income, using the standard deduction and no retirement or health insurance deductions. "Set aside" is the share of profit to move into a tax account; "Quarterly" is each of the four estimated payments.

Profit	SE tax	Federal income tax	New Mexico tax	Total	Set aside	Quarterly
$40,000	$5,652	$1,775	$631	$8,058	20.1%	$2,015
$60,000	$8,478	$3,559	$1,455	$13,492	22.5%	$3,373
$80,000	$11,304	$5,344	$2,329	$18,976	23.7%	$4,744
$100,000	$14,130	$8,235	$3,223	$25,587	25.6%	$6,397
$150,000	$21,194	$16,413	$5,500	$43,107	28.7%	$10,777
$250,000	$29,851	$36,509	$10,286	$76,646	30.7%	$19,161

Married filing jointly

The same profit, earned by one spouse filing jointly with no other household income.

Profit	SE tax	Federal income tax	New Mexico tax	Total	Set aside	Quarterly
$40,000	$5,652	$398	$21	$6,071	15.2%	$1,518
$60,000	$8,478	$1,885	$618	$10,981	18.3%	$2,745
$80,000	$11,304	$3,550	$1,401	$16,255	20.3%	$4,064
$100,000	$14,130	$5,335	$2,244	$21,708	21.7%	$5,427
$150,000	$21,194	$9,795	$4,442	$35,432	23.6%	$8,858
$250,000	$29,573	$25,154	$9,137	$63,864	25.5%	$15,966

How New Mexico taxes self-employment income

New Mexico starts from federal adjusted gross income (after the deduction for half of self-employment tax), then applies its own deductions, exemptions, and credits.

Standard deduction: $16,100 single, $32,200 joint, $24,150 head of household
Personal exemption: $2,500 single, $5,000 joint, $2,500 head of household
Top rate: 5.9%; your bracket on $100,000 of profit is 4.9%.

2026 New Mexico income tax brackets (single)

Taxable income over	Up to	Rate
$0	$5,500	1.5%
$5,500	$16,500	3.2%
$16,500	$33,500	4.3%
$33,500	$66,500	4.7%
$66,500	$210,000	4.9%
$210,000	and up	5.9%

2026 New Mexico brackets (married filing jointly)

Taxable income over	Up to	Rate
$0	$8,000	1.5%
$8,000	$25,000	3.2%
$25,000	$50,000	4.3%
$50,000	$100,000	4.7%
$100,000	$315,000	4.9%
$315,000	and up	5.9%

New Mexico vs its neighbors

The same $100,000 of 2026 profit for a single sole proprietor, run through each state's rules. Federal tax is the same everywhere, so the difference is state income tax. Against its neighbors, the same $100,000 of profit costs $414 more in Oklahoma and $3,223 less in Texas.

State	State income tax	Total tax	Set aside	vs New Mexico
New Mexico	$3,223	$25,587	25.6%	—
Arizona	$1,921	$24,285	24.3%	−$1,302
Colorado	$2,705	$25,069	25.1%	−$518
Oklahoma	$3,637	$26,001	26.0%	+$414
Texas	$0	$22,365	22.4%	−$3,223

How the gap changes with profit

Extra tax (+) or savings (−) for a single filer if the same business were based in each of its neighbors instead of New Mexico.

Profit	Arizona	Colorado	Oklahoma	Texas
$40,000	−$104	+$111	+$496	−$631
$60,000	−$464	−$59	+$509	−$1,455
$80,000	−$872	−$278	+$472	−$2,329
$100,000	−$1,302	−$518	+$414	−$3,223
$150,000	−$2,417	−$1,160	+$228	−$5,500
$250,000	−$4,808	−$2,235	−$247	−$10,286

What's different about New Mexico for the self-employed

New Mexico's gross receipts tax (about 4.9%–9.4% combined) applies to most services sold by sole proprietors. It is separate from income tax and not included here.
The low- and middle-income exemption phases out above $20,000 of AGI ($30,000 joint).
New Mexico's gross receipts tax (GRT) is imposed on the business, not the buyer, and covers receipts from performing services in New Mexico as well as selling goods. Most self-employed service providers owe GRT, at a combined state and local rate that depends on location.
The later electronic-filing deadline for personal income tax returns was removed. Paper and e-filed PIT-1 returns are now both due April 15.

New Mexico estimated payments and deadlines

New Mexico collects its own estimated income tax with Form PIT-ES, separately from the IRS. Required if your New Mexico tax after withholding is expected to be $1,000 or more (the department computes an underpayment penalty when the balance due is $1,000 or more).

Installment	New Mexico due date	Share of the year	Federal due date
Q1	April 15, 2026	25%	April 15, 2026
Q2	June 15, 2026	25%	June 15, 2026
Q3	September 15, 2026	25%	September 15, 2026
Q4	January 15, 2027	25%	January 15, 2027

The 2026 New Mexico income tax return is due April 15, 2027.

File and pay through the New Mexico Taxation and Revenue Department.

LLC fees and sales tax in New Mexico

Forming an LLC: $50 state filing fee.
New Mexico LLCs file no annual report.
Gross receipts tax: 4.875% statewide, plus local rates. It is charged to the business on its gross receipts, including services, rather than added to a sale as a sales tax.

A single-member LLC is taxed exactly like a sole proprietorship unless it elects S or C corporation status, so the self-employment tax figures on this page apply either way.

New Mexico self-employment tax FAQs

How much should I set aside for taxes if I'm self-employed in New Mexico?

For a single filer with no other income, about 22.5% of profit at $60,000, 25.6% at $100,000, and 28.7% at $150,000 for 2026, covering self-employment tax, federal income tax, and New Mexico income tax. Enter your own numbers in the calculator for a personal figure.

Does New Mexico tax self-employment income?

Yes. New Mexico taxes self-employment profit as ordinary income at 1.5% to 5.9%. New Mexico starts from federal adjusted gross income (after the deduction for half of self-employment tax), then applies its own deductions, exemptions, and credits.

When are New Mexico estimated tax payments due for 2026?

April 15, 2026, June 15, 2026, September 15, 2026, January 15, 2027, using Form PIT-ES. Required if your New Mexico tax after withholding is expected to be $1,000 or more (the department computes an underpayment penalty when the balance due is $1,000 or more).

How much does an LLC cost in New Mexico?

The state filing fee to form an LLC is $50. New Mexico LLCs file no annual report. A single-member LLC is still taxed like a sole proprietorship for federal purposes, so the self-employment tax figures above apply.

Sources and method

Computed with the Self-Employment Tax Calculator's 2026 engine and New Mexico's rules from the sources below. Planning estimates, not a return. Last checked 2026-10-08.