No tax on some purchases in NM starting today; Texas in two weeks
Updated On: Feb 10 2014 02:06:52 PM CST
New Mexico shoppers receive a tax break on purchases of some clothing, shoes, school supplies and computers starting today and continuing through the weekend.
The state's annual tax-holiday is directed at shoppers with school-age children, but any customer benefits if they buy qualifying items at participating retailers.
No gross receipts tax is imposed on certain clothing and shoes up to $100, computers costing $1,000 or less, and computer hardware of $500 or less, such as printers. School supplies costing up to $15 are tax-free.
Cell phones, iPods, and MP3 players remain subject to taxation.
The tax rate tops 8 percent in some areas after local governments add on to the state's 5 percent levy.
The Taxation and Revenue Department's web site lists the tax treatment of various goods.
In Texas, shoppers get a break from state and local sales taxes Aug. 1719. Lay-away plans can be used again this year to take advantage of the sales tax holiday. For more information, click here.
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