Hibou Odoo Suite Enterprise: State of New Mexico: Unemployment + Workers' Compensation Reporting & Payments

Purpose

The purpose of this documentation is to outline the processes and requirements associated with submitting unemployment insurance reports and submitting unemployment insurance payments in the state of New Mexico.

Unemployment Insurance Reporting & Payments

All employers must submit their quarterly reports and pay quarterly taxes to the Department of Workforce Solutions unless the employer is exempt from paying Unemployment Insurance taxes. An employer’s quarterly report must be filed on or before the last day of the month immediately following the end of the calendar quarter.

QuarterMonths In QuarterDue Date
1st QuarterJanuary - MarchApril 30th 
2nd QuarterApril - JuneJuly 31st
3rd QuarterJuly - SeptemberOctober 31st
4th QuarterOctober - DecemberJanuary 31st 

All employers must file their quarterly reports electronically via the New Mexico Department of Workforce Solutions, using one of the acceptable formats prescribed by the Department of Workforce Solutions.

Each quarterly report must include only wages paid during the quarter being reported. Unless the employer's liability has been terminated or suspended, the employer must file a quarterly report even if no wages were paid or no tax is due for the quarter.

For more information, see the Unemployment Insurance Employer Handbook.

Good to Know!

The 2019 taxable wage base is $24,800.  

New employers that have been in operation in New Mexico for less than two years pay a rate reflecting their industry’s (NAICS code) average rate for Unemployment Insurance in New Mexico.

New contributing employers will have a rate that is the greater of their industry average Unemployment Insurance Contribution rate or 1%.

Workers' Compensation

Every employer who elects or is required to be covered by the Workers' Compensation Act, and every employee covered by the Workers’ Compensation Act, is assessed a fee for funding the administration of the Workers’ Compensation Administration.

The fee for the employer is $2.30 multiplied by 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.

Payment is due by the last day of the month following the end of the quarter. Employers must report and pay both fees using the Workers' Compensation Fee Form WC-1.

Employers must register with the New Mexico Taxation and Revenue Department in order to file Form WC-1

Good to Know!

The fee is not the same as the workers’ compensation insurance premium. Paying the fee does not mean that the employer has workers’ compensation insurance coverage. The employer must obtain a workers' compensation insurance policy.