NM Working Families Tax Credit


Here’s some more great information from SHARE New Mexico on the WFTC:

If you live in New Mexico and you claim the federal Earned Income Tax Credit, you can also claim the New Mexico Working Families Tax Credit. The Working Families Tax Credit for New Mexico residents equals 10% of the federal EITC amount. The New Mexico state tax credit is 10% over and above the EIC that you get from the federal government.

Example: If you live in New Mexico and you claim a $1,000 Earned Income Credit on your federal tax return, you can claim an additional 10% of this amount, equal to $100 ($1,000 x .10 = $100), on your New Mexico state income tax return.

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