For 2016, the taxable wage base in New Mexico will be $24,100, up $700 from the 2015 amount of $23,400. Also, the state’s reserve factor is four and contribution rates range from 0.33% to 5.4%. New employers will pay the greater of their industry average contribution rate or 1.0%. Finally, for 2016, the maximum weekly benefit amount in New Mexico is $423 and the minimum weekly benefit amount is $79 (DWS Communications).