New Mexico Tax Holiday 2012: Friday Through Sunday

August 2, 2012 by  
Filed under Kids, Shopping

See our latest New Mexico Tax Holiday post for information on the 2013 tax holiday.


A reminder that the 2012 New Mexico Gross Receipts Tax Holiday starts on Friday, August 3, and ends at midnight on Sunday, August 5.  I posted about this before, but if you missed it, here’s the recap.

During the tax holiday weekend you will not be charged sales tax on a wide variety of items, which is especially helpful for parents as it makes back-to-school shopping a little more affordable!

As with any legislation, the rules are somewhat complex. Basically, the following items are exempt from gross receipts tax in New Mexico during the tax holiday:

  • Clothing or shoes priced less than $100 per unit/per pair
  • Desktop, laptop, or notebook computers, including tablets, priced less than $1,000
  • Other computer hardware priced under $500 (such as a printer, mouse, keyboard, monitor, microphone, speakers, ink cartridges etc.)
  • School supplies priced under $30 per unit
  • Bookbags and school backpacks priced less than $100 per unit
  • Handheld calculators under $200 per unit

Note that phones, cameras, PDAs, iPods and all MP3 players, games including computer games, and musical instruments are specifically excluded. (That is, these items are taxable.)

Find more details on what’s taxable and nontaxable during the New Mexico Gross Receipts Tax Holiday in the PDF files at the link.

In Albuquerque, where the gross receipts tax rate is 7%, that means you can save $70 on the purchase of a $1,000 laptop computer. Another example might be a family with four kids, each requiring $250 worth of clothing, shoes, and school supplies. They also would save $70 by not paying sales tax. That’s a big shopping saving, just by buying on the right weekend.

Retailers across the city will be participating, and sometimes they give you a tax break even on items not officially covered by absorbing the gross receipts tax themselves. But if you have any doubts about what is or is not included in the 2012 Tax Holiday, ask in stores before you begin shopping.



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