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Payroll New Mexico, Unique Aspects of New Mexico Payroll Law and Practice

The New Mexico State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is:

Taxation and Revenue Department
P.O. Box 630
Santa Fe, NM 87504-0630
(505) 827-0867
www.state.nm.us/tax


New Mexico does not have a state form to calculate state income tax withholding.


Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In New Mexico cafeteria plans are not taxable for income tax calculation; not taxable for unemployment insurance purposes. 401(k) plan deferrals are not taxable for income taxes; taxable for unemployment purposes.

In New Mexico supplemental wages are taxed at a 7.7% flat rate.


You may file your New Mexico State W-2s by magnetic media if you choose to.


The New Mexico State Unemployment Insurance Agency is:

Department of Labor
Employment Security Division
401 Broadway, N.E.
P.O. Box 2281
Albuquerque, NM 87102
(505) 841-8712
http://www.workerscomp.state.nm.us/

The State of New Mexico taxable wage base for unemployment purposes is wages up to ,800.00.

New Mexico requires Magnetic media reporting of quarterly wage reporting if the employer has at least 250 employees that they are reporting that quarter.


Unemployment records must be retained in New Mexico for a minimum period of four years. This information generally includes: name; social security number; dates of hire, rehire and termination; wages by period; payroll pay periods and pay dates; date and circumstances of termination.


The New Mexico State Agency charged with enforcing the state wage and hour laws is:

Department of Labor
Labor and Industrial Division
501 Mountain Rd., NE
Albuquerque, NM 87102
(505) 841-8983
http://www.dol.state.nm.us/

The minimum wage in New Mexico is .15 per hour.


The general provision in New Mexico concerning paying overtime in a non-FLSA covered employer is one and one half times regular rate after 40-hour week.


New Mexico State new hire reporting requirements are that every employer must report every new hire and rehire. The employer must report the federally required elements of:

  • Employee's name

  • Employee's address

  • Employee's social security number

  • Employer's name

  • Employers address

  • Employer's Federal Employer Identification Number (EIN)


This information must be reported within 20 days of the hiring or rehiring.
The information can be sent as a W4 or equivalent by mail, fax or electronically.
There is a .00 penalty for a late report and 0 for conspiracy in New Mexico.

The New Mexico new hire-reporting agency can be reached at 888-878-1607 or 505-995-8230 or on the web at www.nm-newhire.com


New Mexico does not allow compulsory direct deposit

New Mexico requires the following information on an employee's pay stub:

  • Gross and Net Earnings

  • Employer's name

  • gross wages and benefits

  • hours worked

  • itemized deductions



New Mexico requires that employee be paid no less often than semimonthly, up to 16 days apart; monthly for FLSA-exempt employees.


New Mexico requires that the lag time between the end of the pay period and the payment of wages earned from 1st-15th of month, pay by 25th; from 16th-end of month, pay by 10th of next month; 5 days extra for out-of -state payrolls.


New Mexico payroll law requires that involuntarily terminated employees must be paid their final pay with in 5 working days; 10 days for wages paid by commission, task, or piece rates; next regular payday if suspended due to labor dispute. Voluntarily terminated employees must be paid their final pay by the next regular payday.


Deceased employee's wages must be paid when normally due to the surviving spouse.


Escheat laws in New Mexico require that unclaimed wages be paid over to the state after one year.

The employer is further required in New Mexico to keep a record of the wages abandoned and turned over to the state for a period of 10 years.


New Mexico payroll law mandates no more than 50% of minimum wage may be used as a tip credit.


In the New Mexico payroll law there is no provision covering required rest or meal periods.

New Mexico statute requires that wage and hour records be kept for a period of not less than one year. These records will normally consist of at least the information required under FLSA.

The New Mexico agency charged with enforcing Child Support Orders and laws is:

Child Support Enforcement Division
Department of Human Services
P.O. Box 25109
2025 S. Pacheo
Santa Fe, NM 87504
(505) 827-7200
www.state.nm.us/hsd/csed.html

New Mexico has the following provisions for child support deductions:

  • When to start Withholding? next payday after service

  • When to send Payment? Within 7 days of Payday.

  • When to send Termination Notice? "Promptly"

  • Maximum Administrative Fee? per payment.

  • Withholding Limits? 50% of disposable earnings





Please note that this article is not updated for changes that can and will happen from time to time.


About the Author: Charles J. Read, CPA has been in the payroll, accounting and tax business for 30 years,
the last fifteen in private practice. Mr. Read is the author of "Tax and Accounting Issues
in Forming a New Business."

To find professional payroll services at a budget price go to www.payrollonabudget.com
a paperless payroll company.

For a full service payroll bureau with CPA's on staff visit www.CustomPayroll.com .

See an excerpt of Mr. Read's interviews from William Shatner's "Heartbeat of America"
television show on the web sites linked above.




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