Updated May 10, 2026
Capital Gains: 1.5% - 5.9%Income Tax: 1.5% - 5.9%Tax Summary
New Mexico follows federal guidelines treating cryptocurrency as property. Capital gains and crypto income are taxed at personal income tax rates of 1.5%-5.9%. No specific crypto tax laws or exemptions exist at the state level.
Quick facts for New Mexico, United States
Capital Gains Tax
1.5% - 5.9%Income Tax Rate
1.5% - 5.9%Capital Gains Tax
1.5% - 5.9%• Crypto capital gains classified per federal rules (property).
• Taxed as ordinary income at NM PIT rates.
• No state-specific capital gains tax rules or preferential rates.
• No exemptions or thresholds unique to crypto.
• Federal long-term rates do not apply at state level.
• Taxed as ordinary income at NM PIT rates.
• No state-specific capital gains tax rules or preferential rates.
• No exemptions or thresholds unique to crypto.
• Federal long-term rates do not apply at state level.
Income Tax
1.5% - 5.9%• Mining income taxed as ordinary income at fair market value.
• Staking rewards taxed as ordinary income when received.
• Follows federal classification.
• No state-specific income tax rules for crypto.
• Staking rewards taxed as ordinary income when received.
• Follows federal classification.
• No state-specific income tax rules for crypto.
Reporting Requirements
• Report crypto gains and income on NM PIT-1 form.
• File if federal return required or NM taxable income exists.
• Attach federal Schedule D, 8949 if applicable.
• Deadline: April 30 annually.
• File if federal return required or NM taxable income exists.
• Attach federal Schedule D, 8949 if applicable.
• Deadline: April 30 annually.
Special Notes
• Gross receipts tax (GRT) not addressed for personal crypto transactions.
• NM takes hands-off approach to crypto regulation.
• Rates subject to annual adjustments; top rate reduced gradually.
• NM takes hands-off approach to crypto regulation.
• Rates subject to annual adjustments; top rate reduced gradually.
Other US States
Compare state-level crypto tax differences across the United States.
Alabama
CG: 2-5%Income: 2-5%
Alaska
CG: 0%Income: 0%
Arizona
CG: 2.5%Income: 2.5%
Arkansas
CG: 0-3.7% (50% deduction on long-term gains)Income: 0-3.7%
California
CG: 1%-13.3%Income: 1%-13.3%
Colorado
CG: 4.4% (flat rate)Income: 4.4% (flat rate)
Connecticut
CG: 2-6.99%Income: 2-6.99%
Delaware
CG: 2.2%-6.6%Income: 2.2%-6.6%
District of Columbia
CG: 4-10.75% (taxed as ordinary income)Income: 4-10.75%
Florida
CG: 0%Income: 0%
Georgia
CG: 5.19%Income: 5.19%
Hawaii
CG: Varies: short-term 1.4-11%, net long-term up to 7.25%Income: 1.4-11%
Idaho
CG: 0-5.3%Income: 0-5.3%
Illinois
CG: 4.95% (flat rate)Income: 4.95% (flat rate)
Indiana
CG: 2.95% state + 0.5%-3% local county (varies)Income: 2.95% state + 0.5%-3% local county (varies)
Iowa
CG: 3.8%Income: 3.8%
Kansas
CG: 5.2%-5.58%Income: 5.2%-5.58%
Kentucky
CG: 3.5%Income: 3.5%
Louisiana
CG: 3%Income: 3%
Maine
CG: 5.8%-9.15% (taxed as ordinary income)Income: 5.8%-9.15%
Maryland
CG: 2%-6.5% state + 2.25%-3.2% local; +2% surtax on net gains if FAGI >$350,000Income: 2%-6.5% state + 2.25%-3.2% local (varies by county)
Massachusetts
CG: 5% (LTCG), 8.5% (STCG) + 4% surtax >$1,083,150Income: 5% + 4% surtax >$1,083,150
Michigan
CG: 4.25%Income: 4.25%
Minnesota
CG: 5.35%-9.85% (+1% NIIT on net investment income > $1M)Income: 5.35%-9.85%
Mississippi
CG: 0% on first $10,000; 4.4% thereafterIncome: 0% on first $10,000; 4.4% thereafter
Missouri
CG: 0%Income: 2%-4.7%
Montana
CG: Long-term: 3.0%-4.1%; Short-term: 4.7%-5.65%Income: 4.7%-5.65%
Nebraska
CG: 2.46%-4.55% (taxed as ordinary income)Income: 2.46%-4.55%
Nevada
CG: 0%Income: 0%
New Hampshire
CG: 0%Income: 0%
New Jersey
CG: 1.4%-10.75% (as ordinary income)Income: 1.4%-10.75%
New York
CG: 4-10.9% (state) + 3.078-3.876% (NYC)Income: 4-10.9% (state) + 3.078-3.876% (NYC)
North Carolina
CG: 3.99% (taxed as ordinary income)Income: 3.99%
North Dakota
CG: Short-term: 0%-2.5%; Long-term: effective 0%-1.5% after 40% exclusionIncome: 0%-2.5%
Ohio
CG: 2.75% (flat on income > $26,050)Income: 2.75% (flat on income > $26,050)
Oklahoma
CG: 0%-4.5%Income: 0%-4.5%
Oregon
CG: 4.75%-9.9%Income: 4.75%-9.9%
Pennsylvania
CG: 3.07% (flat rate)Income: 3.07% (flat rate)
Rhode Island
CG: 3.75%-5.99%Income: 3.75%-5.99%
South Carolina
CG: 1.99%-5.21% (44% deduction for net long-term capital gains)Income: 1.99%-5.21%
South Dakota
CG: 0%Income: 0%
Tennessee
CG: 0%Income: 0%
Texas
CG: 0%Income: 0%
Utah
CG: 4.5%Income: 4.5%
Vermont
CG: 3.35%-8.75%Income: 3.35%-8.75%
Virginia
CG: 2-5.75%Income: 2-5.75%
Washington
CG: 7% on long-term gains exceeding $278,000 (2025 threshold, inflation-adjusted)Income: 0% (no state income tax)
West Virginia
CG: 2.11% - 4.58% (taxed as ordinary income)Income: 2.11% - 4.58%
Wisconsin
CG: 3.5%-7.65% (30% subtraction for long-term)Income: 3.5%-7.65%
Wyoming
CG: 0%Income: 0%
New Mexico Crypto Tax FAQ
Is cryptocurrency taxed in New Mexico?
New Mexico follows federal guidelines treating cryptocurrency as property. Capital gains and crypto income are taxed at personal income tax rates of 1.5%-5.9%. No specific crypto tax laws or exemptions exist at the state level.
What is the crypto capital gains tax rate in New Mexico?
The state-level capital gains treatment in New Mexico is currently listed as 1.5% - 5.9%.
How do I report crypto taxes in New Mexico?
• Report crypto gains and income on NM PIT-1 form.
Compare With Other Countries
Disclaimer: This information is AI-generated and for educational purposes only. Tax laws are complex and subject to change. Always consult with a qualified tax professional for advice specific to your situation.