Tax-free holiday weekend for buyers in New Mexico
The annual New Mexico Gross Receipts Tax Holiday is running this weekend and going on right now!
Families are coming from all over the area to save as they get ready to send their kids back to school.
” The budget does get more expensive as he grows, clothes-wise, shoes wise, ” Renee Barragan , a mother from Silver City said. ” It makes a big difference. Sometimes clothes, shoes are expensive and so when you get that tax-free it really helps. It really does. ”
But the sales and tax-free benefits are helping more than just parents.
” As parents, you’re already spending a lot of money, but as teachers, spending your own out-of-pocket, ” Alicia Contreras, a teacher in Las Cruces said. ” Teachers will go through supplies and pencils and books and this tax free definitely helps. ”
Buyers can expect the sales tax to be waived on a wide range of products with most items pertaining to back to school shoppers.
To qualify for the deduction, clothing or shoes must be priced at less than $100 per unit. The price limit for desktop, laptop, tablets or notebook computers is $1,000, and for related computer hardware it is $500.
School supplies for use in standard, general-education classrooms must be under $30 per unit. There are items specifically excluded by statute in all categories. Those items are always taxable.
The Holliday concludes on August 4, 2019, at midnight.
New Mexico also has another tax-free holiday on November 24 for business items up to $500
The tax-free weekend in Texas exempts taxes on clothing, footwear, school supplies, and backpacks priced less than $100 will run next weekend from August 9th-11th .
