Yes. The state’s low-income comprehensive tax rebate is for resident filers with modified gross incomes of $22,000 or less (for tax year 2000 and later) who also meet other qualifications. “Modified gross income” is a calculation unique to New Mexico. It means — for the entire household — all income and all compensation from other sources regardless of whether the income is taxable by the U.S. Government or the state of New Mexico.
There is also an exemption for low-and middle-income taxpayers that is based upon adjusted gross income. To qualify you must have an adjusted gross income of $27,500 or less if you are married and filing separately, $36,667 or less for single individuals, or $55,000 or less for married individuals filing jointly.