New Mexico’s tax free weekend is here, which, of course, means back-to-school shopping! Here are all the details you may need to know about the tax free holiday! Plus scroll down for my #1 tip when it comes to back-to-school shopping.
When is New Mexico’s tax free weekend?
The tax holiday starts at 12:01 a.m. on August 7, 2020 and ends on August 9, 2020 at midnight.
What items are tax exempt?
- Shoes and clothing that are less than $100.
- Computers that are less than $1000.
- Computer monitors, speakers, printers, keyboards, microphones, or mouse that are less than $500.
- School supplies students normally use in a standard classroom priced at $30 or less per item.
- E-Readers (if the model has computing functions such as word processing, spreadsheets, etc.)
- Tablet computers
- School backpacks
What items are excluded?
- Accessories, jewelry, watches.
- Clothing and shoes specifically designed for athletic activity or protection.
- Radios, compact disc players, headphones, sporting equipment, portable desktop telephones, video equipment, copiers, office equipment, furniture or fixtures.
- E-readers (if it only has Internet access and no other functions), PDAs, MP3 players, cassette players and recorders, cameras, books, CDs, DVDs, magazines, and other periodicals.
- Computer software.
- Musical instruments.
- All games, including video games, board games, computer games, and handheld gaming devices.
- Hiking backpacks
What types of sales are tax exempt?
- Rain checks from a store that has run out of an item are tax exempt.
- If you put an item on layaway, it’s eligible for waived taxes only if final payment and delivery take place during tax-free weekend.
- If you need to exchange an item bought during the tax free holiday for another item of the same price, the exchange is still tax free.
- If the exchange is of greater or lesser price than what you originally paid, it is subject to tax.
- Online sales if the item is both ordered and paid for during tax-free weekend and it’s billed to a New Mexico address.
My #1 Back-to-School Shopping Tip
Don’t battle the crowds if you don’t have to. The tax free weekend is a great thing, but it doesn’t mean you have to stand around a bin of crayons with 50 other parents and tote your rambunctious kids to the store when they’d rather be playing.
Buy your school supplies online. (They’re still tax exempt if you order them this weekend.) Put on your sweatpants, pour a glass of wine, whip out that school supply list, and start clicking. All from the comfort of your couch. Seriously, getting your school supplies delivered to your front door is life-changing.