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New Mexico Unemployment Insurance Posters

August 25th, 2006 Posted by Emily

Each employing unit or business entity doing business in New Mexico must inform the Division within ten (10) days after beginning a business and request a status report, Form ES-802. The status report, a report to determine liability, must be filed with the Division within thirty (30) days from the commencement of the business even if the employing unit or business entity does not have employees performing services subject to coverage under the Act. You will also need to post the New Mexico Unemployment Insurance posters where they are clearly visible to your employees.

An employer who has not established liability may voluntarily elect unemployment coverage. If an employer elects unemployment coverage, an Election of Employer Liability form (ES-803) has to be filled out. If you choose to voluntarily elect coverage, you are also required to post New Mexico Unemployment Insurance posters.There has been a recent change to the reporting of UI information. For those employers currently filing quarterly reports on paper, the ES903A form has been revised to reflect combined reporting. The change requires employers to report total individual state withholding tax amounts for each employee and the individual’s workman’s compensation fee, in addition to reporting individual’s total gross wages and individual’s total excess wages. However, employers will not be able to pay the required taxes with a single payment. They will still have to complete the appropriate form for each tax program - ES903A, WC-1, and CRS-1 - and remit payment separately to Taxation and Revenue Department.

Beginning early in April 2006, the New Mexico Department of Labor, Workers’ Compensation Administration, and Taxation and Revenue Department implemented a consolidated filing process. This enables employers to file reports and submit required payments to each of the three agencies from a single Web site. Further information on this new process can be found on the Taxation and Revenue Department web site. You can continue to use your current Magnetic Media reporting but you will need to update the file format. The updated schema is available on Taxation and Revenue Department website.

The details of the most recent unemployment insurance labor laws can be found on the New Mexico Unemployment Insurance posters.