{"id":1340,"date":"2020-10-21T15:11:22","date_gmt":"2020-10-21T21:11:22","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/governments\/?p=1340"},"modified":"2020-10-21T15:13:49","modified_gmt":"2020-10-21T21:13:49","slug":"workers-compensation-fee","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/governments\/2020\/10\/21\/workers-compensation-fee\/","title":{"rendered":"Workers Compensation Fee"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.6.6″ _module_preset=”default”][et_pb_row _builder_version=”4.6.6″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.6.6″ _module_preset=”default”][et_pb_text _builder_version=”4.6.6″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″]Every employer who elects or is required to be covered by the Workers’ Compensation Act, and every employee covered by the Workers\u2019 Compensation Act, is assessed a fee for funding the administration of the Workers\u2019 Compensation Administration (Section 52-5-19 NMSA 1978<\/a>). The fee is not the same as the workers\u2019 compensation insurance premium. Paying the fee does not mean that the employer has workers\u2019 compensation insurance coverage. The employer must obtain a workers’ compensation insurance policy.<\/p>\n

The fee for the employer is $2.30 times the number of covered employees working on the last day of the quarter. The fee for covered employees working on the last day of the quarter is $2.00. Payment is due by the last day of the month following the end of the quarter. Employers must report and pay both fees using the form\u00a0WC-1,\u00a0Workers’ Compensation Fee<\/a>.\u00a0Instructions for WC-1<\/a>\u00a0are available online.\u00a0Employers must register with the Taxation and Revenue Department in order to file the WC-1.<\/p>\n

The revenue from these fees goes to the state treasurer to be deposited in the Workers\u2019 Compensation Administration Fund, of which $.30 per employee of the fee assessed against the employer reaches the Uninsured Employers\u2019 Fund.<\/p>\n

Workers Compensation Forms and Documents<\/h3>\n