Updated August 7, 2026. Quick answer: every figure Clear Money Guide holds about New Mexico, on one page, each one copied from a dataset that cites its own statute or agency. Built for reporters on deadline — take any line, follow the link for the source.
What stands out about New Mexico
These are the figures where New Mexico differs most from the rest of the country — selected by counting how many jurisdictions share each value, not by editorial preference.
- Formation fee: $50 — one of only 4 of 48
- Preferential mechanism: deduction — one of only 6 of 51
- Return deadline: 30 days — one of only 10 of 51
- Grace period days: 30 days, or at the insurer’s option one month of not less than 30 days — one of only 10 of 47
What dying costs here
- Small estate limit: 50000
- Small estate scope: personal_only
Source and full detail: the cost-of-dying index. Figures copied from those pages, which own them.
Estate and property law status
- Authorized: yes
- Statute or act: NMSA 1978 14-14A-1 et seq. (Revised Uniform Law on Notarial Acts), enacted SB 1 (2021)
- Effective date: 2022-01-01
- Conditions: New Mexico-commissioned notaries may conduct RON via secure audio-video communication; the SOS is required to provide training and examinations on the new requirements.
- Association name: New Mexico Life Insurance Guaranty Association (statutory term: the life and health insurance guaranty association created under NMSA 1978 § 59A-42-5)
- Death benefit limit: $300,000
- Cash surrender limit: $100,000
- Annuity limit: $250,000
- Aggregate limit: $300,000
- Statute citation: N.M. Stat. Ann. § 59A-42-4 (Coverage; limitations)
- Trigger: delivery of the policy or contract (replacement rule, 13.9.6.9 NMAC); receipt of the policy by the policyholder (variable life, 13.9.8.11 NMAC)
- Extended windows: 30 days for replacement policies and contracts (13.9.6.9 NMAC); 10 days for variable life insurance policies (13.9.8.11 NMAC)
- Refund basis: Replacement: unconditional full refund of all premiums or considerations paid including policy fees or charges; for a variable or market-value-adjustment policy, the cash surrender value plus the fees and other charges deducted from gross premiums or imposed under the policy. Variable life: the d…
- Grace period days: 30 days, or at the insurer’s option one month of not less than 30 days
- Coverage during grace: the policy shall continue in full force; if a loss occurs during the grace period the amount of any premium due or overdue may be deducted from the policy proceeds
- Variations: 4 weeks for industrial life insurance policies whose premiums are payable more frequently than monthly (59A-20-4). Variable life insurance: 31 days from the premium due date for scheduled-premium policies, and for flexible-premium policies a grace period beginning on the policy processing day whe…
Source and full detail: notary rules by state · guaranty association limits · life insurance free-look periods · life insurance grace periods. Figures copied from those pages, which own them.
Working and earning here
- Quit deadline: Next succeeding regular payday
- Fired deadline: 5 days if wages are a fixed and definite amount; 10 days for all other (unfixed) wages
- Statute citation: NMSA 1978 50-4-4, 50-4-5
- Has law: No
- Disclosure trigger: none
- Salary history ban: No
- Contested: No
Source and full detail: final paycheck laws by state · pay transparency laws by state · paid family leave by state · the convenience-of-the-employer rule. Figures copied from those pages, which own them.
Renting here
- Deposit cap: 1 month’s rent if the rental agreement term is less than one year; no fixed dollar cap if the term is one year or more, but any amount above one month’s rent triggers a mandatory annual interest payment
- Return deadline: 30 days
- Interest required: conditional
- Statute citation: NMSA 1978 47-8-18 (Uniform Owner-Resident Relations Act)
Source and full detail: security deposit law by state. Figures copied from those pages, which own them.
Starting a business here
- Formation fee: $50
- Annual report: none — New Mexico requires no periodic report from LLCs
- Publication requirement: none
- Statute citation: NMSA 1978 § 53-19-63 (filing, service and copying fees); Limited Liability Company Act, NMSA 1978 §§ 53-19-1 to 53-19-74
- Five year total: at least $50
Source and full detail: LLC cost by state. Figures copied from those pages, which own them.
Tax treatment here
- Has law: Yes
- Treatment: preferential
- Rate: 5.9% top marginal
- Preferential mechanism: deduction
- Tax year: 2026
- Statute citation: NMSA 1978 sec. 7-2-34 (deduction); NMSA 1978 sec. 7-2-7 (rates)
Source and full detail: capital gains tax by state. Figures copied from those pages, which own them.
For journalists: how to cite this
Clear Money Guide, New Mexico Money Statistics 2026. https://clearmoneyguide.com/state-money-statistics/new-mexico/. Every figure on this page is copied from a Clear Money Guide dataset that states its own primary source and the date it was read — follow the section links for the statute or agency behind any number. Free to reuse with attribution under CC BY 4.0.
What this sheet does and does not contain
This sheet aggregates; it does not research. Every figure is copied from the owning page linked in each section, and a figure we do not own is simply absent — not estimated, not inferred from a neighbouring state. That is why sheets differ in length: this one states 40 figures, and a state where we hold less will show fewer. A short sheet means we have less, not that the state has less.
Statutory law changes. Each linked owner page carries the date its figures were read; check there before relying on anything here. See also New Mexico financial adviser statistics and all 51 state money sheets.
General information about published law and public data, not legal, tax or investment advice. No advertising appears on this page and we earn nothing from it.