Back to School Tax-Free Weekend is this weekend in New Mexico
This weekend is Back-to-School Tax-Free Weekend in New Mexico which means some businesses are making some items tax-free for 48 hours.
SANTA FE, N.M. — This weekend is Back-to-School Tax-Free Weekend in New Mexico which means some businesses are making some items tax-free for 48 hours.
It begins Friday at 12:01 a.m. and goes through Sunday. Businesses can choose to lift the state Gross Receipts Tax, ranging from 4.875-9%, on certain items.
Among the items that can be sold tax-free this are:
- Clothing and shoes less than $100 per unit
- Computers under $1,000
- Related computer hardware priced under $500
- School supplies under $30 per unit for classroom use
The GRT depends on local government rates in each location. Online sales of qualifying merchandise are also eligible for the deduction. Retailers don’t have to participate if they don’t want to.
For more information on the tax-free weekend, click here.