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Mora County property tax deadline extended
05/09/2022
Taxpayers warned against using old CRS forms
04/26/2022
Delinquent property tax auctions scheduled
04/26/2022
Income tax returns due Monday
04/14/2022
MVD celebrates Donate Life Month
04/05/2022
Taxpayers to receive rebates in July
03/14/2022
Tax season is open
01/24/2022
Vendor reissuing some driver’s licenses
01/20/2022
MVD opens new self-service kiosk
01/04/2022
Small Business Saturday is November 27
11/22/2021
Tax Workshops open for registration
11/08/2021
Delinquent property tax auctions scheduled
11/01/2021
Tax Workshops open for registration
10/13/2021
MVD releases new practice driving test
08/05/2021
Back-to-School tax holiday is this weekend
08/02/2021
Vehicle titles to be issued by mail
07/23/2021
MVD warns New Mexicans against scam
07/12/2021
Tax Policy Advisory Committee to meet May 13
04/27/2021
MVD celebrates National Donate Life Month
04/19/2021
Tips for Taxpayers
03/09/2021
Guidance on $600 Income Tax Rebates
03/05/2021
Dec. 1 Tax Workshops
11/30/2020
Small Business Saturday is November 28
11/24/2020
Tax, MVD offices closed until Nov. 30
11/16/2020
Tax workshops offered online Nov. 17
11/10/2020
Annual publication of unclaimed property
10/21/2020
B-200.34 – Delivered Groceries
9/2/2020
Tax Holiday
Back to School Tax Free Holiday
Coming soon to a retail store near you is the annual New Mexico Gross Receipts Tax Holiday. If you have school-age children, it’s nothing short of a bonanza. For that weekend the state suspends collection of gross receipts tax on sales of qualifying items so you can buy the items tax free. Because many merchants also absorb the tax on a number of non-qualifying items, you are the beneficiary all around.
The tax holiday begins at 12:01 a.m. on Friday, August 5, 2022 and concludes on Sunday, August 7, 2022 at midnight.
During that time the law provides a deduction from gross receipts for retail sales of qualifying tangible personal property; in effect allowing the retailer to sell the items “tax free.”
FYI-203,Gross Receipts Tax Holiday contains list divided into categories, but please note that within some categories there is a set dollar maximum. To qualify for the deduction, clothing or shoes must be priced at less than $100 per unit. The price limit for desktop, laptop, tablets or notebook computers is $1,000, and for related computer hardware it is $500. School supplies for use in standard, general-education classrooms must be under $30 per unit. There are items specifically excluded by statute in all categories. Those items are always taxable.
For more specific information on the legislation, definitions, types of sales, (rain checks, exchanges, refunds, gift cards, layaways, Internet, mail order and telephone sales) please see FYI-203,Gross Receipts Tax Holiday.