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<h2 id="whatisthetaxrateformarijuanainnewmexico">What is the Tax Rate for Marijuana in New Mexico?</h2>
Here are the two types of taxes that retail <a href="https://newmexicostatecannabis.org/business">marijuana businesses in New Mexico</a> must collect.
The excise tax for recreational cannabis in New Mexico is structured as follows:
<ul>
<li>12% of sales until July 1, 2025</li>
<li>Gradually rises to 18% beginning July 1, 2030</li>
</ul>
Source: New Mexico Taxation and Revenue Department

Explore the latest and historical data for the sales taxes collected by New Mexico businesses. Gain valuable insights into the state's evolving cannabis business program at NewMexicoStateCannabis.org

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