≈ $11.8 B/yr
State tax revenue
≈ 35%
Oil & gas share of revenue
≈ $3.5 B
Recent budget surplus
Historical data
Coming soon
Long-run charts for this indicator are on the way.
Compared to the United States
| Indicator | New Mexico | United States |
|---|---|---|
| Oil & gas revenue share (%) | 35 | 3 |
National ranking
New Mexico ranks #19 of 31 states by state tax revenue per capita.
| #1 | Texas | 82,300,000,000 |
| #2 | Maine | $5,100,000,000 |
| #3 | Rhode Island | $4,900,000,000 |
| #4 | Montana | $4,200,000,000 |
| #5 | New Hampshire | $3,400,000,000 |
| #6 | New Jersey | $5,700 |
| #7 | Wisconsin | $3,700 |
| #8 | Washington | $3,700 |
| #9 | Virginia | $3,500 |
| #10 | Michigan | $3,500 |
| #11 | Arizona | $3,200 |
| #12 | North Carolina | $3,100 |
| #13 | Georgia | $2,950 |
| #14 | Ohio | $2,860 |
| #15 | Florida | 58 |
| #16 | Illinois | 57 |
| #17 | Massachusetts | $44 |
| #18 | Wyoming | 40% |
| #19 | New Mexico | 35% |
| #20 | Minnesota | 28 |
| #21 | Indiana | $24 |
| #22 | Vermont | $18 |
| #23 | Colorado | 17 |
| #24 | Missouri | 14 |
| #25 | Utah | 12 |
| #26 | Oregon | 12 |
| #27 | South Dakota | 8.4% |
| #28 | Delaware | $5.5 |
| #29 | Alaska | 5M |
| #30 | Kentucky | 0 |
| #31 | Louisiana | 0 |
Overview
New Mexico's tax revenue stands at ≈ $11.8 B/yr, a key indicator for anyone evaluating tax revenue in the state. Additional figures include oil & gas share of revenue: ≈ 35%, recent budget surplus: ≈ $3.5 B, giving a fuller picture of tax revenue trends across New Mexico. New Mexico's state tax revenue relies heavily on oil and gas royalties and gross receipts taxes, generating record surpluses in recent years.
Did you know?
- Oil and gas revenues have driven multi-billion-dollar budget surpluses for New Mexico in recent years.