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Tax breaks for school continue today

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Andrea Lucero of Roswell and her daughter Lindzy shop for school supplies for the family’s four children at a local retailer Saturday during the Back-to-School Tax-Free Shopping Weekend in New Mexico. (Lisa Dunlap Photo)

Copyright © 2021 Roswell Daily Record

Parents, get your wallets ready.

The “back-to-school” tax-free weekend continues today until midnight, with people in the city of Roswell able to save 7.833 percent on eligible “back-to-school” items. That’s $7.83 cents saved on every $100 of school-related items purchased.

The annual tax-free weekend begins the first Friday of August and continues through midnight on Sunday. During the weekend, the state does not require vendors to collect gross receipts taxes on such things as clothing, backpacks, calculators, pens and paper, and computers.

A full list of non-taxable items and spending limits is available on the New Mexico Taxation and Revenue website, tax.newmexico.gov.

The average parent is expected to spend $510 this fall on school-related items, according to a 2018 survey by the Deloitte management and accounting firm. Nationwide school-supply spending is expected to total $27.6 billion this year.

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