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New Mexico Unemployment Wage Base to Rise in 2020

Oct. 18, 2019, 8:59 PM

New Mexico’s unemployment-taxable wage base is to be $25,800 in 2020, up from $24,800 in 2019, a spokesman for the state Department of Workforce Solutions said Oct. 18.

Unemployment tax rates for experienced employers are to be unchanged from 2019, the spokesman told Bloomberg Tax in an email. Effective Jan. 1, 2020, tax rates for experienced employers not assessed an excess claims premium are to range from 0.33% to 5.4%, and the maximum total tax rate for experienced employers assessed an excess claims premium is to be 6.4%.

For 2020, unemployment tax rates for new employers vary by industry and...

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