Officer Limitations for 2022
Each year the State of New Mexico Office of the Superintendent of Insurance approves payroll limitations for business officers and owners. The payroll limitations set by the state’s Workers’ Compensation Administration can impact the cost of your workers’ compensation coverage.
For 2022 corporate officers and LLC members who elect coverage are subject to a minimum weekly payroll of $950 and a maximum weekly payroll of $3,800. Partners and sole proprietors who elect to be covered will be included at a flat amount of $49,100 per year or $4,092 per month.
Please call our Service Center at (505) 345‐3477 or (800) 640‐3369 if you have any questions about owner or officer limitations or coverage.