New Mexico’s annual Gross Receipts Tax Holiday begins this Friday, August 2 at 12:01 a.m. and continues through midnight on Sunday, August 4. The database is searchable by nontaxable and taxable items as well as sortable by column.
During the Tax Free Holiday, the state suspends collection of gross receipts taxes on a wide variety of retail merchandise, allowing back-to-school shoppers and others to purchase many items tax free. The Taxation and Revenue Department estimates that shoppers save about $4 million per year annually as a result of the annual tax free holiday weekend.
While there are restrictions as to what qualifies for the tax holiday, merchants often absorb the tax on some non-qualifying items. This database is intended as general guidance and by no means all-inclusive, of both taxable and nontaxable items.
Among the merchandise not subject to tax this weekend are clothing and shoes priced at less than $100 per unit, computers priced under $1,000 and related computer hardware priced under $500. School supplies under $30 per unit for use in standard, general-education classrooms also will be tax-free for the weekend.
For more specific information on the legislation, definitions, types of sales, (rain checks, exchanges, refunds, gift cards, layaways, Internet, mail order and telephone sales) please see FYI-203, Gross Receipts Tax Holiday available on the Taxation and Revenue Department web site at www.tax.newmexico.gov, select “Forms and Publications.”