Back to School Tax Free Holiday
CLOVIS (KSMX)- The annual New Mexico Gross Receipts Tax Holiday will be this Friday, August 7 and ends midnight, August 9. 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.”
This bulletin contains a list, intended as general guidance and by no means all-inclusive, of both taxable and nontaxable items for quick reference by retailers taking part in the gross receipts tax holiday during the first weekend of August:
B-200.18, List of Taxable and Non Taxable Items for New Mexico’s Gross Receipts Tax Holiday
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