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Martinez announces back to school tax-free weekend

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Copyright © 2021 Roswell Daily Record

Santa Fe — Gov. Susana Martinez on Friday announced New Mexico’s annual back to school tax-free weekend, aimed at helping families save money and prepare students for the upcoming school year. The tax holiday runs from Aug. 3-5.

“Preparing to go back to school is expensive for families across New Mexico,” Martinez said. “Tax-free weekend is a great way for us to help families save their hard-earned money, as they equip their children for a successful school year.”

Friday through Sunday, vendors will not be required to collect gross receipts tax (GRT) from customers on certain back to school necessities, such as pens, pencils, computers, and clothing.

Non-taxable items include:

• Clothing and footwear $100 or less

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• School supplies such as pens, paper, and other classroom necessities $30 or less

• Computers, $1,000 or less

• Various computer accessories $500 or less

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

During the tax-free weekend, New Mexico law provides a deduction from gross receipts for retail sales of qualifying items, in effect allowing retailers to sell the items free of GRT.