- New Mexico has an annual sales tax holiday called the “Back-to-School Sales Tax Holiday”
- During this event, certain items like clothing and footwear under $100 are exempt from GRT
- Businesses do not need to collect GRT on qualifying items during the tax holiday
- Guidelines for exempt clothing and footwear must be reviewed
- Sales tax holidays encourage consumer spending by eliminating sales tax on certain retail purchases
- Clothing or shoes must be priced at less than $100 per unit
- Accessories and special clothing for athletic or protective use remain taxable
- Price limit for computers and related hardware is $1,000 and $500 respectively
- School supplies for educational purposes are also included in the tax holiday.
Source: ladailypost.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
