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

The New Mexico State Agency that oversees theNew Mexico does not allow compulsory direct
collection and reporting of State incomedeposit
taxes  deducted  from  payroll  checks  is:
New Mexico requires the following information
Taxation  and  Revenue  Departmenton  an  employee's  pay  stub:
P.O.  Box  630-  Gross  and  Net  Earnings
Santa  Fe,  NM  87504-0630-  Employer's  name
(505)  827-0867-  gross  wages  and  benefits
New Mexico does not have a state form to-  hours  worked
calculate  state  income  tax  withholding.
-  itemized  deductions
Not all states allow salary reductions made
under Section 125 cafeteria plans or 401(k)New Mexico requires that employee be paid no
to be treated in the same manner as the IRSless often than semimonthly, up to 16 days
code allows. In New Mexico cafeteria plansapart;  monthly  for  FLSA-exempt  employees.
are not taxable for income tax calculation;
not taxable for unemployment insuranceNew Mexico requires that the lag time between
purposes. 401(k) plan deferrals are notthe end of the pay period and the payment of
taxable for income taxes; taxable forwages earned from 1st-15th of month, pay by
unemployment  purposes.25th; from 16th-end of month, pay by 10th of
next month; 5 days extra for out-of -state
In New Mexico supplemental wages are taxed atpayrolls.
a  7.7%  flat  rate.
New Mexico payroll law requires that
You may file your New Mexico State W-2s byinvoluntarily terminated employees must be
magnetic  media  if  you  choose  to.paid their final pay with in 5 working days;
10 days for wages paid by commission, task,
The New Mexico State Unemployment Insuranceor piece rates; next regular payday if
Agency  is:suspended due to labor dispute. Voluntarily
terminated employees must be paid their final
Department  of  Laborpay  by  the  next  regular  payday.
Employment  Security  DivisionDeceased employee's wages must be paid when
normally  due  to  the  surviving  spouse.
401  Broadway,  N.E.
Escheat laws in New Mexico require that
P.O.  Box  2281unclaimed wages be paid over to the state
after  one  year.
Albuquerque,  NM  87102
The employer is further required in New
(505)  841-8712Mexico to keep a record of the wages
abandoned and turned over to the state for a
The State of New Mexico taxable wage base forperiod  of  10  years.
unemployment purposes is wages up to
$16,800.00.New Mexico payroll law mandates no more than
50% of minimum wage may be used as a tip
New Mexico requires Magnetic media reportingcredit.
of quarterly wage reporting if the employer
has at least 250 employees that they areIn the New Mexico payroll law there is no
reporting  that  quarter.provision covering required rest or meal
periods.
Unemployment records must be retained in New
Mexico for a minimum period of four years.New Mexico statute requires that wage and
This information generally includes: name;hour records be kept for a period of not less
social security number; dates of hire, rehirethan one year. These records will normally
and termination; wages by period; payroll payconsist of at least the information required
periods and pay dates; date and circumstancesunder  FLSA.
of  termination.
The New Mexico agency charged with enforcing
The New Mexico State Agency charged withChild  Support  Orders  and  laws  is:
enforcing  the  state  wage and hour laws is:
Child  Support  Enforcement  Division
Department  of  Labor
Department  of  Human  Services
Labor  and  Industrial  Division
P.O.  Box  25109
501  Mountain  Rd.,  NE
2025  S.  Pacheo
Albuquerque,  NM  87102
Santa  Fe,  NM  87504
(505)  841-8983
(505)  827-7200
The minimum wage in New Mexico is $5.15 per
hour.New Mexico has the following provisions for
child  support  deductions:
The general provision in New Mexico
concerning paying overtime in a non-FLSA- When to start Withholding? next payday
covered employer is one and one half timesafter  service
regular  rate  after  40-hour  week.
- When to send Payment? Within 7 days of
New Mexico State new hire reportingPayday.
requirements are that every employer must
report every new hire and rehire. The- When to send Termination Notice?
employer must report the federally required"Promptly"
elements  of:
- Maximum Administrative Fee? $1 per
-  Employee's  namepayment.
-  Employee's  address- Withholding Limits? 50% of disposable
earnings
-  Employee's  social  security  number
Please note that this article is not updated
-  Employer's  namefor changes that can and will happen from
time  to  time.
-  Employers  address
Charles J. Read, CPA has been in the payroll,
- Employer's Federal Employer Identificationaccounting and tax business for 30 years,the
Number (EIN)last fifteen in private practice. Mr. Read
is the author of "Tax and Accounting Issuesin
This information must be reported within 20Forming  a  New  Business."
days  of  the  hiring  or  rehiring.
To find professional payroll services at a
The information can be sent as a W4 orbudget price go to paperless payroll
equivalent  by  mail,  fax or electronically.company.
There is a $20.00 penalty for a late reportFor a full service payroll bureau with CPA's
and  $500  for  conspiracy  in  New  Mexico.on  staff  visit .
The New Mexico new hire-reporting agency canSee an excerpt of Mr. Read's interviews from
be reached at 888-878-1607 or 505-995-8230 orWilliam Shatner's "Heartbeat of
on  the  web  atAmerica"television show on the web sites
linked above.



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