New Mexico Changes Method of Calculating SUI Contribution Rates: Employment Law Manual Updated

Author: Rena Pirsos, XpertHR Legal Editor

Effective January 1, 2015, the New Mexico Department of Workforce Services began using the benefit ratio method of calculating employers' state unemployment insurance (SUI) contribution rates. The new calculation method includes an excess claims premium, which is capped at 1% of an employer's taxable payroll. These changes were made due to legislation passed in 2013.

The Unemployment Insurance Tax (FUTA/SUI): New Mexico section of the Employment Law Manual has been updated to reflect these changes.