Gov. Lujan Grisham reminds New Mexicans about Tax-Free Weekend – New Mexicans can save 8% or more on purchases

SANTA FE - Gov. Michelle Lujan Grisham is encouraging New Mexicans to take advantage of the upcoming Back-to-School Tax-Free Weekend, which could save shoppers as much as 8 percent or more on purchases.

"New Mexico families should be getting excited about the coming school year without having to worry so much about being able to afford school supplies and clothes for their children. Doing their shopping this weekend can help with that," said Gov. Lujan Grisham.

Businesses can choose to deduct the sales of various merchandise made between 12:01 a.m. on Friday, August 2, and midnight on Sunday, August 4. That allows them to sell qualifying merchandise tax-free. Many merchants also absorb the tax on non-qualifying items.

The Gross Receipts Tax in New Mexico ranges from 4.875 percent to more than 9 percent, depending on local government rates in each location. Internet-based sales of qualifying merchandise are eligible for the deduction. Retailers are not required to participate.

"This is a great opportunity for New Mexicans to save some money on clothes and other things they need for their families as children are heading back to school," said Taxation and Revenue Secretary Stephanie Schardin Clarke.

Among the merchandise that can be sold tax-free this weekend are clothing and shoes priced at less than $100 per unit, computers priced under $1,000, and related computer hardware priced under $500. School supplies under $30 per unit for use in standard, general-education classrooms also qualify.

More information is available on the News & Alerts page at tax.newmexico.gov.