Question 1

How much does workers' comp cost for Carpentry - Install Cabinets in New Mexico?

Accepted Answer

The current rate for Carpentry - Install Cabinets (Class Code 5404) in New Mexico is $6.86 per $100 of payroll. This means an employee earning $50,000/year would cost approximately $3430 per year in workers' comp premium.

Question 2

Is workers' comp mandatory in New Mexico?

Accepted Answer

Yes, workers' compensation insurance is mandatory in New Mexico for employers with 3 or more employees.

Question 3

How does New Mexico's rate compare to other states?

Accepted Answer

New Mexico's rate for Carpentry - Install Cabinets is $6.86, which is $0.61 below the national average of $7.47 (-8%).

Question 4

What does class code 5404 cover?

Accepted Answer

Covers carpenters specializing in the installation of prefabricated cabinets, countertops, and built-in storage.

State	Rate per $100	Difference
New Mexico (current)	$6.86	—
Indiana	$5.46	-1.40
Texas	$5.74	-1.12
Virginia	$5.81	-1.05
Utah	$5.95	-0.91
Arkansas	$6.16	-0.70

Workers' Comp Rate for Carpentry - Install Cabinets in New Mexico (Class Code 5404)

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