Enterprise
Individual & Small Business
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Federal 2026 estimated tax due dates, for comparison: April 15, 2026, June 15, 2026, September 15, 2026, January 15, 2027.
Who must pay New Mexico estimated tax?
Every individual who must file a New Mexico personal income tax return must pay estimated tax under Section 7-2-12.2 NMSA 1978. If the difference between the tax shown on the return and the total of estimated tax payments and withholding tax paid is more than $1,000 the Taxation and Revenue Department determines whether the required annual payment was made and computes an underpayment penalty.
How do you avoid a New Mexico underpayment penalty?
Required annual payment is the lesser of 90% of the tax on the current year's return (or 90% of the year's tax if no return is filed) or 100% of the tax on the prior year's return (if a full 12-month New Mexico return was filed for the prior year). No 110% rule. Underpayment penalty is only computed when tax on the return exceeds estimates plus withholding by more than $1,000.
How much should you pay?
Start with your federal estimate: the free Quarterly Estimated Tax Calculator works out your 2026 federal payments and safe harbor. New Mexico figures its own tax, so the state amount is separate.