New Mexico residents are in for a financial boost as the state begins issuing $2,850 refund deposits to eligible individuals and families. This initiative is part of a broader effort to ease the impact of inflation, rising housing costs, and economic instability by putting money directly into the hands of those who need it most.
Who Qualifies for the $2,850 Refund?
The refund is targeted at low- to middle-income households in New Mexico. To be eligible, residents must have filed a 2024 state income tax return, earned less than $75,000 for individuals or $150,000 for joint filers, and lived in New Mexico for at least six months in the previous tax year. Both full-time and part-time workers, as well as retirees, are encouraged to check their eligibility.
How Will the Payments Be Distributed?
Refunds are being deposited via direct deposit for those who included banking details with their tax filings. Paper checks are being mailed to others, though delivery may take slightly longer. The state began processing payments in April 2025, and most recipients can expect to see the funds in their accounts or mailboxes by early May.
What Should You Do If You Haven’t Received Yours?
If you believe you’re eligible but haven’t seen your refund yet, the New Mexico Taxation and Revenue Department recommends verifying your tax filing status and ensuring your mailing or bank information is correct. A delay could also occur if your return is still being processed or flagged for review.
Can These Refunds Be Combined With Federal Stimulus?
Yes! These state refunds are independent of any federal benefits. If you’re receiving federal tax refunds or other assistance, it won’t affect your eligibility for the New Mexico refund, making this a valuable addition to your financial resources.
Table: $2,850 Refund Details for New Mexicans
| Criteria | Details |
|---|---|
| Refund Amount | $2,850 |
| Who’s Eligible | NM residents with 2024 tax return filed |
| Income Limits | <$75,000 (individuals) / <$150,000 (joint) |
| Residency Requirement | 6+ months in NM during tax year |
| Payment Method | Direct deposit or paper check |
| Distribution Timeline | April–May 2025 |
| Where to Check Status | NM Taxation and Revenue Department Website |
If you’re a resident of New Mexico and meet the eligibility requirements, you could be just days away from receiving a $2,850 refund deposit. Check your bank account or mailbox, and don’t hesitate to follow up if your payment hasn’t arrived. This financial support could make a significant difference, especially as costs continue to rise in 2025.
