Study ranks NM among highest sales tax rates

Posted at: 03/19/2014 10:04 AM
Updated at: 03/19/2014 10:27 AM
By: Elizabeth Reed,

New data released by the Tax Foundation reveals that New Mexico's combined state and local sales tax rate is among the highest in the country.

According to the Albuquerque Business First, New Mexico's combined average totals 7.26 percent, which is the 16th highest in the nation.

Tennessee had the highest combined rate at nearly 9.5 percent. Alaska had the lowest at less than 2 percent.

The Tax Foundation's report also found that differences in sales tax rates caused some consumers to shop across borders or buy products online.