Withholding
Withholding requirements
Supplemental rate
5.9% flat rate
State Unemployment Insurance (SUI)
Wage base
$31,700
Contribuitions
Rates range from 0.33% to 6.4%
New contributing employers use their industry average unemployment insurance contribution rate or 1%, whichever is greater.
More information
Workers’ Compensation fee — The fee for the employer is $2.30 times the number of covered employees working on the last day of the quarter. The fee for covered employees working on the last day of the quarter is $2.00.
Labor
Minimum wage
Minimum Wage is $12.00/hour for most New Mexico businesses. Certain cities and occupations may have other minimums.
Termination Pay
If an employee is fired, they should receive their final termination pay within five days. If they quit, they should receive their payment on the next regular payday.
More information
New Hire Filing
Reporting deadline
Employers must report hiring, rehiring, and return to work within 20 days.
Reporting online
Reporting by mail
New Mexico New Hires Directory
P.O. Box 29480
Santa Fe, NM 87592-9480
New hire reporting form
Form W-4
Child Support
More information
State Disbursement Unit
Child Support Enforcement Division
P.O. Box 25109
Albuquerque, NM 87125
Other
New employer registration
New employers must register with the following:
Department of Workforce Solutions
Department of Taxation and Revenue
Local taxes
N/A
Reciprocal states
N/A
Disability insurance
N/A
Last Updated
12/20/2023
States
The information provided here should not be considered legal or accounting advice nor should it substitute for legal, accounting, and other professional advice. If you require legal or accounting advice, you should always consult your licensed attorney, accountant, or other professional to discuss the facts of your particular situation.
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