From July 31 to August 2, New Mexico shoppers can skip paying gross receipts tax (GRT) on some purchases for the state’s back-to-school tax holiday. Tax-free items include some clothes, technology, and other school supplies.
According to Taxation & Revenue New Mexico, GRT rates in New Mexico range from 5.25% to 9.44% while the statewide average is 7.11 percent. Retailers aren’t required to participate in the holiday, but those who choose not to have to pay tax on otherwise eligible sales and recover tax costs from customers.
A full list of taxable and non-taxable items can be found on the Taxation & Revenue New Mexico website.
Original reporting: El Paso News (HLL/CB) — read the source article.
