Governor Promotes Back To School Tax-Free Weekend

STATE News:
 
SANTA FE — Gov. Susana Martinez encourages New Mexico families to take advantage of the annual tax-free weekend through Sunday, which will save them money and prepare their children with clothes and supplies to return to school this fall. 

“This is a great opportunity for families to do back-to-school shopping and save some of their hard-earned money,” Martinez said. “The tax-free weekend is a win-win for both families and businesses. And most importantly, it helps our kids get back to school with more of the supplies they need to be prepared and ready to learn.”   

Today through Sunday, retailers will not be required to collect gross receipts tax (GRT) from customers on certain back-to-school necessities, such as school supplies, computers and clothing.

 
This exemption will enable more New Mexico families to ensure that their children are well-prepared to resume school. New Mexico taxpayers could save as much as $3.5 million throughout the state over the course of the weekend.   

Price limits are for each item, not the total amount spent for all purchases.

 
Non-taxable items include:
  • Clothing and footwear $100 and under;
  • School supplies such as pens, paper, and other classroom necessities $30 and under;
  • Computers $1,000 and under; and,
  • Various computer equipment $500 and under.  
 
The complete list of taxable and non-taxable items is available online here. During the tax-free weekend, New Mexico law provides a deduction from gross receipts for retail sales of qualifying items, which allows retailers to sell the items “tax-free.” All New Mexicans are able to take advantage of this tax program.
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