Does New Mexico workers compensation law have specific requirements for subcontractors/contractors and sole proprietors?
Employers in the construction field are required to have workers’ compensation insurance coverage, regardless of the number of employees. Non-construction employers with only one or two workers may choose whether or not to obtain coverage. Employee Leasing and Staffing Companies Using a PEO or staffing company to obtain your workers compensation may be a good alternative to purchasing your own workers compensation policy. Leasing companies handle your payroll, w-2 forms, unemployment and workers compensation claims. In many cases the down payment required to obtain a new workers compensation policy is high and many new businesses cannot afford the down payment. Another advantage, based on my experience, is that you will never get audited because you pay as you go for your coverage. We represent numerous leasing and staffing companies who in many cases offer deep discounts on your workers compensation coverage that you will not find from standard workers compensation insurance carriers.
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