Posted at: 07/29/2014 7:51 AM
By: The Associated Press
New Mexico's annual tax holiday is approaching and will provide shoppers with savings on purchases of school supplies, computers and some clothing and shoes.
Starting Friday through the weekend, there will be no gross receipts tax on certain products purchased at participating retailers.
The tax rate varies across the state, but exceeds 8 percent in some communities.
No tax will be imposed on computers up to $1,000, including tablets; and computer hardware costing no more than $500, including printers.
Also tax-free are certain clothing and shoes up to $100 and school supplies under $30.
Cell phones and video game devices remain subject to taxation.
The Taxation and Revenue Department's web site lists the tax treatment of various goods.
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