State Tax Collections: T41 Corporation Net Income Taxes for New Mexico
QTAXT41QTAXCAT3NMNO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
349.00
Year-over-Year Change
129.61%
Date Range
1/1/1994 - 1/1/2025
Summary
This series measures net income tax collections by the state government of New Mexico. It provides insight into corporate profitability and tax revenues within the state.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'State Tax Collections: T41 Corporation Net Income Taxes for New Mexico' metric tracks the net income taxes paid by corporations to the government of New Mexico. This data point is a key indicator of the overall health and profitability of the state's business sector.
Methodology
The data is collected directly from state tax records and revenue reports.
Historical Context
Policymakers and economists use this metric to assess the fiscal condition and economic performance of New Mexico.
Key Facts
- New Mexico's corporate income tax rate is 5.9%.
- Corporate income taxes account for about 8% of New Mexico's total tax revenue.
- Tax collections fluctuate with changes in the state's business environment and economic conditions.
FAQs
Q: What does this economic trend measure?
A: This metric measures the net income taxes paid by corporations to the government of New Mexico.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the overall health and profitability of New Mexico's business sector, which is a key indicator of the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected directly from state tax records and revenue reports.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the fiscal condition and economic performance of New Mexico.
Q: Are there update delays or limitations?
A: The data is published quarterly, so there may be a delay of several months before the most recent figures are available.
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Citation
U.S. Federal Reserve, State Tax Collections: T41 Corporation Net Income Taxes for New Mexico (QTAXT41QTAXCAT3NMNO), retrieved from FRED.