The New Mexico Gross Receipts Tax Holiday kicks off on Friday, August 6, and ends at midnight on Sunday, August 8, 2010. These items are exempt from gross receipts tax during the tax holiday:
- Clothing or shoes costing less than $100
- Desktop, laptop, or notebook computers costing less than $1,000
- Other computer hardware costing under $500 (such as a printer, mouse, keyboard, monitor, microphone, speakers etc.)
- School supplies priced less than $15 per unit
- School backpacks, bookbags, handheld calculators priced less than $100 per unit
Exclusions include phones, PDAs, handheld computers/email/internet devices, MP3 players, books, games including video games, office furniture, and musical instruments. In other words, these items are taxable.
See all the details on what’s subject to tax and not in the PDF file on the NM Gross Receipts Tax Holiday page.
And as the legislation is rather complicated, if you’re still in doubt about what’s tax-free, ask in the store before you start shopping.
