The annual tax-free holiday weekend is happening from July 31 to August 2. This is your perfect chance to splurge on your kids’ school supplies at a low cost.
This great news is from the state: they will suspend the collection of the gross receipts tax on sales. During this time, plenty of back-to-school items will be tax-free.
There are selected items that qualify for the tax deduction, such as shoes or clothing that must be priced below $100 per unit, desktop computers, laptop computers, and tablet and notebook computers up to $1,000, computer hardware up to $500, and school supplies used by the majority must be under $30 per item.
There are many more qualifications for an item to be tax-exempt; you can visit the New Mexico Taxation and Revenue Department for the full list.
What are you waiting for? Get the best school supplies for your child this back-to-school season!
