New Mexico released its 2023 unemployment insurance information on its workforce solutions department website on Jan. 3.
The unemployment-taxable wage base for 2023 is $30,100, up from $28,700 in 2022.
The tax rate for private-sector new employers is generally 1%, but new employers in the agriculture, forestry, fishing, and hunting industry are subject to a 1.06% rate, according to the website.
Tax rates for experienced employers are set by state law and range from 0.33% to 5.4%, not including an excess claims premium. The maximum total tax rate for experienced employers assessed an excess claims premium is 6.4%.
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.