No tax on some purchases in NM starting today; Texas in two weeks

New Mexico shoppers receive a tax break on purchases of some clothing, shoes, school supplies and computers starting today and continuing through the weekend.

The state’s annual tax-holiday is directed at shoppers with school-age children, but any customer benefits if they buy qualifying items at participating retailers.

No gross receipts tax is imposed on certain clothing and shoes up to $100, computers costing $1,000 or less, and computer hardware of $500 or less, such as printers. School supplies costing up to $15 are tax-free.

Cell phones, iPods, and MP3 players remain subject to taxation.

The tax rate tops 8 percent in some areas after local governments add on to the state’s 5 percent levy.

The Taxation and Revenue Department’s web site lists the tax treatment of various goods.

In Texas, shoppers get a break from state and local sales taxes Aug. 1719. Lay-away plans can be used again this year to take advantage of the sales tax holiday. For more information, click here.