New Mexico (US)
COUNTRY PLAYBOOK
Currency
Salary payment frequency
Capital
Time Zone
Official Languages
Is English spoken?
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Introduction
General Overview & Economic Facts
- New Mexico is known as ‘The Land of Enchantment’; largely due to its stunning landscapes and diverse array of attractions.
Why Employ In New Mexico (US)?
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- Top industries: New Mexico is historically a mining and ranching state, but natural resources still contribute significantly to the GDP. Energy, aerospace and defense, logistics and transportation, tourism, food, etc., are some of the state’s biggest industries.
- As of September 2023 there are more than 2.1 million residents call New Mexico home.
Overview Of The Labour Law
- New Mexico’s economy benefits heavily from the extraction of energy and mineral deposits.The state has large reserves of minerals including petroleum, natural gas, potash, uranium, gold and silver, amongst others.
- Labor laws in Mexico generally favor employees more than they do across the rest of the United States. As such, certain types of benefits, requirements for termination, and methods of dispute resolution present a different balance of power than employers in other states may be used to. The primary legislation governing New Mexico employment law is the Fair Labour Standards Act (FLSA).These state laws allow the state government to provide specialized infrastructure, buildings, and land to companies operating in the state to support job creation.
Fun Country Facts
- New Mexico was named Nuevo México by Spanish explorers in the 16th Century, around 250 years before Mexico was named and established.
- New Mexico is the fifth largest by area of the fifty states, but with just over 2.1 million residents, ranks 36th in population and 46th in population density.
- A third of New Mexico residents speak Spanish, as the state is predominated by the Hispanic community. Most of the residents speak in Spanish when they are at home and use English for formal communications.
Why Use Playroll Services For New Mexico (US)?
- Employing in Indonesia requires companies to have their own legal entity in the country as well as to manage payroll, employee benefits, taxes and legal compliance. This can get quite complicated, especially with the complexity of employment laws in Indonesia.
- With Playroll’s Employer of Record services, your team will be employed by our established legal entities in each country.
- We will take care of payroll, employee benefits, taxes, legal compliance and provide ongoing employee support, so that you can focus on growing your team.
Employer Contributions
These are additional costs incurred by employers over and above the employee’s monthly gross salary and/or bonus.
Social Security's Old-Age, Survivors, and Disability Insurance (OASDI)
6.20%
Medicare
1.45%
State Unemployment Insurance (SUI)
1%
Federal Unemployment Tax (FUTA)
Calculated on a maxium salary of USD 7 000 per annum
6.00%
Workers Compensation Insurance
Workers accident insurance is dependent on specific company policy.
Dependent on company policy.
Employee Contributions
These are costs incurred by employees that reduce their monthly gross salary and/or bonus to determine their net “take home” pay.
Workers Compensation Insurance
Dependent on company policy.
Workers accident insurance is dependent on specific company policy.
Single or Head of Household - State Income Tax
Income bracket per annum
0 – 6 925
0.00%
6 925.01 – 12 425
1.70%
12 425.01 – 17 925
3.20%
17925.01 – 22 925
4.70%
22 925.01 – 216 925
4.90%
More than 216 925
5.90%
Married- State Income Tax
Income bracket per annum
0 – 13 850
0.00%
13 850.01 – 21 850
1.70%
21 850.01 – 29 850
3.20%
29 850.01 – 37 850
4.70%
37 850.01 – 328 850
4.90%
More than 328 850
5.90%
Head of Household - State Income Tax
Income bracket per annum
0 – 10 400
0.00%
10 400.01 – 18 400
1.70%
18 400.01 – 26 400
3.20%
26 400.01 – 34 400
4.70%
34 000.01 – 325 400
4.90%
More than 325 400
5.90%
Single & married filing separately - Federal Income Tax
Income bracket per annum
0 – 10 275
10.00%
10 275 – 41 775
12.00%
41775.01 – 89 075
22.00%
89 075.01 – 170 050
24.00%
170 050.01 – 215 950
32.00%
215 950.01 – 539 900
35.00%
More than 539 900
37.00%
Married filling jointly or qualifying widowe (er) - Federal Income Tax
Income bracket per annum
0 – 20 550
10.00%
10 400.01 – 18 400
12.00%
83 550.01 – 178 150
22.00%
178 150.01 – 340 100
24.00%
340 100.01 – 431 900
32.00%
431 900.01 – 647 850
35.00%
More than 647 850
37.00%
Head of household- Federal Income Tax
Income bracket per annum
0 – 14 650
10.00%
14 650.01 – 55 900
12.00%
55 900 – 89 050
22.00%
89 050.01 – 170 050
24.00%
170 050.01 – 215 950
32.00%
215 950.01 – 539 900
35.00%
More than 539 900
37.00%
Medicare
1.45%
Social Security's Old-Age, Survivors, and Disability Insurance (OASDI)
Calculated on a maximum of USD 162 000 per annum
Employment Terms
General
Minimum Wage
- Employees in New Mexico are entitled to overtime pay equal to 1.5 times their regular rate of pay for all hours worked over 40, over the course of any seven-day period.
Working Hours
- None.
Overtime
- Maximum of 3 hours per day and 14 hours per week.
Notice Period
- Employer initiating termination: 14 days.
- Employee initiating termination: 30 days.
Severance Pay
Not Applicable.
Probation Period
- New Year’s Day: January 1 (Sunday)
- New Year’s Day (in lieu): January 2 (Monday)
- Martin Luther King Jr. Day: January 16 (Monday)
- Presidents’ Day: February 20 (Monday)
- Memorial Day: May 29 (Monday)
- Independence Day: July 4 (Tuesday)
- Labor Day: September 4 (Monday)
- Indigenous Peoples’ Day: October 9 (Monday)
- Veterans Day: November 10 (Friday)
- Thanksgiving Day: November 23 (Thursday)
- Day after Thanksgiving: November 24 (Friday)
- Christmas Day: December 25 (Monday)
- Christmas Day (in lieu): December 26 (Tuesday)
Bonus
- Referred to as Tunjangan Hari Raya (THR) 1 months’ salary.
Public Holidays
- New Year’s Day – January 1
- Chinese New Year – January 22
- Ascension of the Prophet Muhammad (Isra Mi’raj) – February 18
- Hindu New Year – March 22
- Good Friday – April 7 Eid Al-Fitr – April 22 and April 23
- International Labor Day – May 1
- Ascension of Jesus Christ – May 18
- Pancasila Day – June 1 Waisak (Vesak) – June 4
- Idul Adha – June 29 and June 30
- Independence Day – August 17
- Islamic New Year – September 19
- Prophet Muhammad’s Birthday – September 8
- Christmas Day – December 25
- Boxing Day – December 26
Leave
Paid Leave / Vacation Days
Not Applicable.
Sick Leave
Not Applicable.
Maternity Leave
- 3 months paid leave paid by employer.
Paternity Leave
Falls under family responsibility.
Parental Leave
Falls under family responsibility.
Family Responsibility Leave
In New Mexico, employers are required to comply with the federal Family and Medical Leave Act (FMLA) if they have at least 50 employees for at least 20 weeks in the current or previous year. Employees in New Mexico may take up to 12 weeks of leave in a 12-month period for a serious health condition, bonding with a new child, or qualifying exigencies.
Adoption Leave
New Mexico has recently implemented a new policy that allows state workers to take 12 weeks of paid parental leave for the first time in state history. This policy also covers parents who adopt a child.