NM Shoppers Can Take Advantage Of Tax-Free Weekend
SANTA FE (AP) – New Mexico residents can take advantage of a tax holiday this weekend to buy some clothing and other goods tax-free.
The tax holiday runs from Friday through Sunday. No gross receipts tax will be imposed on clothing and some shoes under $100. Also tax-free are purchases of computers costing $1,000 or less and computer hardware of $500 or less, such as printers and monitors.
No tax will be levied on purchases of school supplies that cost up to $15, such as pens, paper, backpacks and lunch boxes. During last year’s three-day tax holiday, buyers saved an estimated $3 million to $5 million by not paying state and local taxes on their purchases.
The tax-free shopping isn’t limited to shoppers with school-age children. Any individual can benefit if they buy items covered by the tax holiday.
(Copyright 2007 by The Associated Press. All Rights Reserved.)
