New Mexico Working Families Tax Credit
The Working Families Tax Credit (WFTC) is the New Mexico equivalent of the federal earned income tax credit (EITC). The refundable credit equals 25% of the federal EITC. A household that claims a $1,000 federal EITC may receive an additional $250 from New Mexico. 1
New Mexico is one of a handful of states that extend the credit to filers as young as 18 and to filers who file with an Individual Taxpayer Identification Number (ITIN).
FAQ
How much is the New Mexico Working Families Tax Credit?
| NO. OF CHILD | EITC |
|---|---|
| 0 | $162 |
| 1 | $1,082 |
| 2 | $1,788 |
| 3 or more | $2,012 |
Can a household get a refund if it owes no tax in New Mexico?
If your NM EITC is $2,012 and you owe $1,000 in state income tax, the credit cancels your tax bill and you receive the remaining $1,012 as a refund as illustrated in the table below:
| Sample Calculation | Amount |
|---|---|
| NM EITC | $2,012 |
| Tax Owed | $1,000 |
| Refundable Credit | $1,012 |
How do I claim the New Mexico credit?
A taxpayer must file the New Mexico personal income tax return (Form PIT-1) and attach the Rebate and Credit Schedule (Form PIT-RC), completing the Working Families Tax Credit lines. The credit is denied if those lines are left blank.
New Mexico Taxation and Revenue Department
Tax Call Center
(866) 285-2996
Sources & notes
Data and figures on this page come from the sources and notes below:
Footnotes
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Office of the Governor of New Mexico. Gov. Lujan Grisham enacts measure effectively slashing taxes for New Mexico working families . ↩
About this information
SingleMotherGuide.com is an independent state-by-state reference guide and is not affiliated with any government agency. Program amounts and income limits are compiled from official federal and state sources, which are cited on the page, and are reviewed periodically and updated as those sources change.
The information is provided for general guidance and is not legal or financial advice. The administering agency makes the final determination of eligibility and benefit amounts. To report an error, please contact us.
Data freshness
Figures on this page are compiled from the public sources cited above and may change; refer to the cited sources for the most current information.
- Last updated
- Updated by
- Ada Hu