New Mexico announced its 2025 unemployment insurance tax rates and wage base in an update to the Department of Workforce Solutions website.
Tax rates for experienced employers range from 0.33% to 5.4%, and any calculated rates above the maximum are automatically lowered to 5.4%, according to the website. However, if an employer’s unemployment tax rate is calculated as more than 5.4%, the employer may be subject to an excess claims premium equaling up to 1%, resulting in a maximum total rate of 6.4%.
New Mexico assigns tax rates to new employers based on their industry. The rate for most ...
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