Employee Leasing Program FAQs
Employee Leasing Program: FAQs
Q: What is employee leasing?
Q: Do I have to register as an employee leasing company with the Employee Leasing Program?
The Employee Leasing Act mandates that no company or person may do business in New Mexico as an employee leasing contractor unless registered with the Employee Leasing Program.
Q: How do I register my employee leasing company?
Q: What do I need in order to register my employee leasing company?
- Certificate of workers compensation insurance. Holder must be State of New Mexico/Employee Leasing
- Certificate from Public Regulation Commission and or Secretary of State. Articles of Incorporation
- Surety Bond (with Power of Attorney) for $100,000. Holder must be State of New Mexico/Employee Leasing. Only a Surety Bond or a Cash Bond of $100,000 is accepted. Any additional company registered with our department has to have its own workers compensation insurance and its own bond.
- Check or cashier’s check for $1,000 payable to the Employee Leasing Program
Q: How do I register my employee leasing company?
Q: Where do I obtain that information?
- Public Regulations Commission: 800-947-4722 (toll free for NM residents only), 505-827-4502 and 505-827-3600, Option 1. Or visit: www.nmprc.state.nm.us
- Unemployment Insurance: For any unemployment insurance tax questions call the HUNT line 505-841-8576 or the customer service line – 505-841-2000 9 (Link to the website????)
- Secretary of State: 505-827-3600 or 800-477-3632. www.sos.state.nm.us
- Workers Compensation: 505-841-6000 or in-state toll free – 800-255-7965
- State Tax/Gross Receipts – 505-827-0832
- Surety Bond from your insurance provider
Q: Does this agency have a form for the bond/cash collateral?
Q: What happens if I can't get workers compensation insurance in New Mexico because I do not have any employees yet and I can't get employees because I am not a registered employee leasing company?
- You may submit your application with a note that you have applied for your workers compensation insurance.
- A certificate of registration with your workers compensation insurance policy pending will be mailed to you.
- Once you have obtained your workers compensation insurance policy number, you must submit it to the Employee Leasing Program.
Q: What happens after I have submitted my completed application?
Your application and attachments will be reviewed and verified. If the Program requires additional information, you will be notified. Otherwise, once your information has been verified, a registration certificate will be issued.
Q: How long is my certificate valid?
This registration certificate must be renewed annually. (The certificate will have a note specifying cancellation if the WC insurance is not current.)
Q: How do I renew my employee leasing company?
You may obtain a renewal application. If applicant is late renewing there will be a $500.00 penalty besides the registration fee.
Submit your renewal application to this office in time to avoid cancellation. By law this agency is required to cancel all licenses not renewed within thirty days after the annual renewal date.