In New Mexico you have to have a contractors license. If you have less than 8 employees you may not be required to have workers comp. If you want to contract with the oil companies even a one man outfit will be required to carry workers comp, and you will have to have at least 2 million dollars blanket general liability insurance. Otherwise you can sub under someone elses license and insurance, but he is gonna get 50%, and you will only work when he has more work than his crews can handle.
Here in Louisiana even though there is a federal exemption for workers comp for the self-employed and partnerships providing each partner owns at least 10% you will not get a contractors license without proof of workers comp period. For commercial contracting you are not required to have a license on projects under $40,000, residential is $8500. The state recommends you have at least $100,000 blanket liability. Of course insurance and licensing requirements are up to the party you are contracting with. To top it off you cannot get anyone to write you a workers comp policy here at this time.
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