NEW MEXICO (KRQE) – While Small Business Saturday will look different this year, people are still encouraged to shop local. On Saturday, New Mexico based businesses with fewer than ten employees will be able to deduct gross receipt tax. Even though many retailers have to keep their doors closed this weekend, customers can still shop online and do curbside pickup.
“It’s incredibly important that we support our local businesses in every way we can during the holiday shopping season and making an effort to buy local is a great way any New Mexican can help our business community during the COVID-19 crisis,” said the Tourism Department Secretary Jen Paul Schroer in a news release from the Taxation and Revenue Department of New Mexico.
There are several online gift guides this year including Buy NM Local which features more than 800 New Mexico businesses. According to the same news release, a wide variety of merchandise qualifies for tax-free status this Saturday including toys, games, electronics, books, sporting goods, and more as long as the price is under $500 per item and gift cards do not qualify for the tax holiday.
“We know how hard the pandemic has been on New Mexico businesses. Even though we may not be able to support them in person this weekend, we can still help by ordering online or by phone,” said Taxation and Revenue Secretary Stephanie Schardin Clarke in the same news release.
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