@BillM223
This is very interesting. The New Mexico tax rates have been the same for quite a long time (only added recently the 5.9% over $315k which is only some wording added at the end) and to date nobody at NM Taxation & Revenue has spotted the calculation error in the table. Indeed, for MFJ, the tax rate are off by $1 already in the first $1,000 and off by $2 as soon as the income reaches $9,000.
Their own software and many online providers use the equation, not the table. TurboTax uses the tax rate table, which is legally correct. Hence, all New Mexico TurboTax taxpayers with an income above $9,000 are saving $2 in taxes (or only $1 in case of favorable rounding). What is it, a good $1M/year lost for the State of New Mexico or 100 students attending UNM for free?
No idea who to contact, but New Mexico should correct the tax rate table error. I think that I will use the TAP service to file through them and pay the extra $2.
