New Mexico Payroll Taxes
CorpNet can help you register for New Mexico payroll taxes. This saves you time and money, while also making it quick and easy to pay your employees.
New Mexico Payroll Tax Registration Bundle
Starting at $199
Here’s How It Works
We collect your information.
CorpNet will collect information about you and your business to determine your eligibility for registration with the New Mexico Department of Revenue and the New Mexico Department of Labor.
We check for accuracy.
We’ll personally contact you to assess your business tax registration needs and discuss the options available.
We work closely with you.
After you place your order, your dedicated CorpNet agent will collect additional information needed to successfully complete your tax registration request. Once we have all we need, we will submit your application to the state.
We’ll provide you with your employer account registration details so you can give them to your payroll provider to help you pay your employees faster.
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New Mexico Payroll Tax FAQs
What State Payroll Taxes Does New Mexico Have?
- New Mexico Income Tax: New Mexico has a progressive income tax rate ranging from 1.7% to 4.9%, with varying tax brackets.
- New Mexico Unemployment Insurance Tax: New Mexico employers pay a varying unemployment tax rate of 0.33% to 6.4% on a taxable wage base of $27,000.
- New Employer Rate = 1.00%
- Agriculture, Forestry, Fishing, & Hunting = 1.08%
- Public Administration (Govt Entities Only) = 1.07%
- New Mexico Workers Compensation Fee: New Mexico employees and employers must pay the state a Workers’ Compensation Fee. Employer fees are $2.30 per employee per quarter. Employee fees are $2.00 per quarter.
Am I Required to Register for New Mexico Payroll Taxes?
What is Unemployment Insurance Tax?
What is the New Mexico Workers Compensation Fee?
Do New Mexico Household Employees Require Payroll Registration?
Does New Mexico Require an Employer Payroll Tax Account Number?
What Kind of Information Do I Need for Payroll Tax Registration?
- Name and Social Security number of all responsible parties
- Doing Business As (DBA), if applicable
- Physical business address and mailing address
- Business phone number
- Valid email address (contact person and business)
- Nine-digit federal Employer Identification Number (EIN)
- Industry description
What if I Don’t Have an EIN?
An EIN is a Federal Tax Identification Number provided by the IRS. If you do not have an EIN already, CorpNet can obtain one for you via their FTIN service.
What if I Don’t Have a Payroll Processor?
Learn More About Payroll Processing
- What is Payroll?
- What are Payroll Taxes?
- What is Payroll Processing?
- What is Reasonable Compensation for an S Corporation
- How Do You Set Up Payroll for an LLC or Corporation?
- How Do You Pay Yourself as a Sole Proprietor?
- How Do LLC Owners Get Paid?
- Hiring Family Members in a Small Business
- Independent Contractors vs. Employee
- What Every Small Business Should Know About 1099s
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