New Mexico rebate checks of up to $1,000 will hit the bank accounts of eligible residents as early as mid-June. The state is expected to return more than $673 million to New Mexico taxpayers due to a fiscal year surplus from high oil prices.
“Prices for basic necessities continue to be high across the nation,” New Mexico Gov. Michelle Lujan Grisham said in a statement. “Our state today is in a fantastic financial position, and it’s important to me that New Mexico’s families are sharing in that success.”
State tax rebates are not uncommon and New Mexico is just one state sending so-called "stimulus" checks in 2023. For example, Minnesota recently approved tax rebates for eligible residents this year, and more than twenty states sent rebates and inflation relief payments to eligible residents last year. Each state sets its own rebate amounts and eligibility criteria.
New Mexico Rebate Checks
New Mexico will begin sending the 2023 one-time rebate checks to eligible residents in the coming weeks. The amount of the payment will depend on your filing status for the 2021 tax year. Most New Mexico residents won't have to apply to receive the payment. (More on that below.)
- If your 2021 filing status was head of household, married filing jointly, or qualifying widow(er), you can expect a payment of $1,000.
- If you filed as a single filer or as married filing separately on your 2021 tax return, you will receive a payment of $500.
If your 2021 filing status was married filing jointly, the rebate payment will be sent to the primary taxpayer listed on your 2021 New Mexico state tax return.
Who Qualifies for the New Mexico Rebate?
- Taxpayers who file a 2021 New Mexico personal income tax return by May 31, 2024, will receive payments automatically.
- New Mexicans who chose to receive their 2021 state tax refund via direct deposit can expect to receive their stimulus payment the same way.
- All other eligible taxpayers will receive their New Mexico stimulus checks in the mail. Residents listed as a dependent on a 2021 tax return do not qualify for the New Mexico income tax rebate.
What if I wasn’t required to file a 2021 tax return? You may still be eligible to receive an economic relief payment if you aren’t eligible for the income tax rebate because you weren’t required to file a New Mexico income tax return in 2021(for example, if you received non-taxable income such as Social Security).
However, you will have to apply to receive the payment when applications open, and funds might be limited. New Mexico officials say that residents who were not required to file a tax return should apply as soon as possible once applications open. Those relief payments are expected to be sent in July 2023.
How Do I Check My New Mexico Rebate?
New Mexico residents who filed a 2021 tax return can begin checking their bank accounts in mid-June. If you have changed your direct deposit information since filing a 2021 state return or did not receive a 2021 tax refund via direct deposit, you can expect a check in the mail as early as late June.
What if my information has changed? The 2023 New Mexico rebate payments are based solely on 2021 New Mexico state tax returns. If your information has changed since filing your 2021 return, these changes could impact how you receive your rebate payment.
- If your banking information has changed since filing your 2021 New Mexico state return, you will receive a paper check — even if you updated your direct deposit information on your 2022 New Mexico tax return.
- New Mexico does not have an option for updating direct deposit information to receive the 2023 rebate checks.
- If your address has changed since filing your 2021 tax return, you can update it with the New Mexico Taxation & Revenue Department to ensure your rebate check goes to the correct address.
New Mexico previously issued 2022 rebate checks as well. If you have not received your 2022 New Mexico rebate check but were eligible for one, you can contact the state taxation and revenue department for assistance.
