BUSINESS News:
The annual New Mexico Gross Receipts Tax Holiday begins at 12:01 a.m. Friday, Aug. 7 and concludes at midnight Sunday Aug. 9.
During New Mexico’s biggest weekend for back to school shopping, the state suspends collection of gross receipts tax on sales of qualifying items.
Some qualifying items include:
- All clothing and shoes under $100 per unit;
- School supplies under $30 per unit;
- Computers under $1,000; and
- Computer equipment under $500.
A complete list of what will and will not be taxed can be found HERE.
