New Mexico State Tax Information


New Mexico Minimum Wages
Effective 01/01/08Effective 01/01/09Effective 01/01/09
Minimum Wage:$6.50$7.50$9.00
Min. Cash Wage:$2.13$2.13$2.35
Max. Tip Credit:$4.37$5.37$6.65

New Mexico State Income Tax
Wage Withholding:Tables
Supplemental Wage/Bonus Rate:4.9%

New Mexico Unemployment Insurance
Maximum 2020 Taxable Earnings:$25,800
(Decreased from $24,300 in 2019)
Employee Deduction:None
Employer 2020 Tax Rates:0.33 - 5.4%
Standard 2020 New Employer Rate:Greater of: 1.0% or Industry Average
Voluntary Contribution Permitted:No

New Mexico Disability Insurance
Employee Deduction:None

New Mexico Workers Compensation
Employee assessment (per calendar quarter):$2.00
(Per calendar quarte)
Employer assessment (per calendar quarter):$2.30
(For each covered employee, per calendar quarter)

New Mexico State Agencies web sites: