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CCH® UNEMPLOYMENT INSURANCE — 11/24/15

New Mexico announces its 2016 taxable wage base, contribution rates, and weekly benefits amounts

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).