It’s back to school time in New Mexico. And here in the Land of Enchantment, that means no sales tax on many items for educational support. Which not only includes clothes and other traditional school supplies, but all manner of computer hardware and software. Just about everything related is tax-free – computers under $1000 and also computer-related equipment and peripherals under $500. However, some items, mainly music CDs, scanners, video cameras, e-readers, software, headsets and joysticks are not exempt. Check the master list provided by the NM Taxation and Revenue Department to find out exactly what is covered.
The grace period runs through this coming weekend, from midnight (12:01 AM) on Friday, August 5, 2016 to Sunday, August 7, 2016 also at midnight.
Whether you’re getting the kids ready for the first day, or need to upgrade your own system, this is a great time to do it. And because merchants know and are readying their own sales to outdo their competitors, many retailers will absorb the tax on non-related items, too.
Remember, the tax holiday is just this upcoming weekend. Popular items may be sold out quickly so plan ahead, and get there early!