Question 1

How much does workers' comp cost for Taxi/Rideshare in New Mexico?

Accepted Answer

The current rate for Taxi/Rideshare (Class Code 7370) in New Mexico is $6.62 per $100 of payroll. This means an employee earning $50,000/year would cost approximately $3310 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 Taxi/Rideshare is $6.62, which is $0.59 below the national average of $7.21 (-8%).

Question 4

What does class code 7370 cover?

Accepted Answer

Covers drivers and operators of taxi and rideshare services providing passenger transportation.

State	Rate per $100	Difference
New Mexico (current)	$6.62	—
Indiana	$5.27	-1.35
Texas	$5.53	-1.09
Virginia	$5.60	-1.02
Utah	$5.74	-0.88
Arkansas	$5.94	-0.68

Workers' Comp Rate for Taxi/Rideshare in New Mexico (Class Code 7370)

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