TAXES & LICENSES

GROSS RECEIPTS (SALES) TAX: 7.0625%  (as of 1/1/05)
Click here to see gross receipt tax rates for all of New Mexico.

LODGERS TAX: 5%

REAL PROPERTY: NON-RESIDENTIAL, 24.834 MILS; RESIDENTIAL, 24,412 MILS; LEVIED ON 1/3 ASSESSED PROPERTY VALUE

BUSINESS LICENSE/REGISTRATION: REQUIRED EITHER BY THE VILLAGE OF ANGEL FIRE OR BY COLFAX COUNTY, DEPENDING ON THE LOCATION. VILLAGE FEE IS $35 PER YEAR; COUNTY FEE BASED ON GROSS INCOME, CALL THE COLFAX COUNTY CLERK: 505-445-5551.

BUILDING/ZONING PERMIT FEES: CONTACT THE VILLAGE OF ANGEL FIRE FOR REQUIREMENTS AT 505-377-3232

VEHICLE REGISTRATION/DRIVERS LICENSES: NEW MEXICO MOTOR VEHICLE DIVISION OFFICE IN CIMARRON, 505-376-2232; IN TAOS, 505-758-4226 (CALL FOR HOURS)

INCOME TAX BRACKETS:
       Married Filing Jointly:
  If AGI is:              Incremental Tax Rate       Maximum Tax
Less than $8,000             1.70%                          $136
$8,001-$16,000              3.20%                          $392
$16,001-$24,000            4.70%                          $768
$24,001-$40,000            6.00%                       $1,728
$40,001-$64,000            7.10%                       $3,432
$64,001-$100,000          7.90%                       $6,276
Over $100,000:    $6,276 plus 8.2% of excess over $100,000

       Single: 
   If AGI is:             Incremental Tax Rate       Maximum Tax
Less than $5,500             1.70%                        $93.50
$5,501-$11,000              3.20%                        $269.50
$11,001-$18,000            4.70%                        $504.50
$16,001-$26,000            6.00%                        $1,104.50
$26,001-$42,000            7.10%                        $2,240.50
$42,001-$65,000            8.20%                        $4,057.50
Over $65,000:   $4,057.50 plus 8.2% of excess over $65,000

  Link to the New Mexico Tax and Revenue web site for more detailed tax information, www.state.nm.us/tax or call their office: 505-841-6200.