Industry-average new-employer rate (DOL). Range 1.00–1.28% (secondary); upper used.
Minimum wage: Some cities/counties set higher local minimums.
2What this employee costs you
Frequently asked questions
How much does it cost to hire an employee in New Mexico?
A full-time worker at $18.00/hour ($37,440 a year) with 10 PTO days costs about $41,185 a year before benefits: employer payroll tax $2,864, FUTA $42, New Mexico unemployment $445 and typical workers' comp $393. That's $20.59 per hour worked.
What is the New Mexico SUTA rate for new employers in 2026?
1.28% on the first $34,800 of each employee's wages (includes state surcharges per a secondary source; base rate per DOL varies by industry). Industry-average new-employer rate (DOL). Range 1.00–1.28% (secondary); upper used.
What is the New Mexico minimum wage in 2026?
$12.00 per hour. Some cities/counties set higher local minimums.
How much is workers' comp in New Mexico?
The 2024 Oregon premium-rate study puts New Mexico's all-industry index rate at $1.05 per $100 of payroll (rank 27 of 51; national median $1.09). Your real rate depends on job class and claims history.
Forming the business first? New Mexico LLC cost · S-corp calculator