The New Mexico tax-free weekend 2015 kicks off in just one more day. It’s a chance for shoppers to save big on back-to-school purchases, clothes, computers, and other popular items.
Shoppers can enjoy a temporary break in paying a sales tax on August 7 through August 9. This is something retailers and business in the state are hoping will bring in good numbers, and they’ve stocked their shelves with extra merchandise to meet the demand.
General manager of Cottonwood Mall in Albuquerque, B. Janecka, tells Albuquerque Journal that extra hours have been added for the sales tax holiday weekend.
“This is going to be a really busy weekend. Along with the tax-free (deal), so many stores have specials and sales this weekend, and a lot of people know this and they come out for it.”
Clothing and shoes costing less than $100 are exempt from sales tax during the New Mexico tax-free weekend 2015. Some exceptions during the sales tax holiday include certain athletic wear, jewelry, watches, and other accessories.
When it comes to computers, the desktops, laptops, and tablet computers that are priced at $1,000 or less are eligible for sales tax exemptions. Monitors, speakers, printers, and keyboards priced $500 or less are also exempt from New Mexico’s sales tax during the holiday event.
According to the official page at www.tax.newmexico.gov, the New Mexico tax-free weekend 2015 includes and excludes various items.
B-200.18, List of Taxable and Non Taxable Items for New Mexico’s 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.
The New Mexico tax-free weekend officially starts at 12:01 a.m. on August 7, 2015 and runs through August 9, 2015 at midnight.
Be sure to click on the link above to find what all is eligible and exempt during the 3-day sales tax holiday. Generally speaking, if a $100 item is exempt from a sales tax and it cost more than the $100 limit, the buyer must pay a sales tax on the entire amount, not just the amount over the $100. So, there are stipulations and specific conditions that must be met during tax-free weekends in 2015.
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