Tax free holiday for school supplies set Aug. 3-5

New Mexico residents will be able to take advantage of the 3rd annual tax holiday, Aug. 3-5, according to a press release from the state’s Taxation and Revenue Department.

A family can save up to $42 in taxes if they spend $600 on school clothes and there are additional savings for computer purchases as well as school supplies, the release said.

Nontaxable items include: clothing and footwear $100 or less; school supplies such as pens and paper $15 or less that are typically used in a classroom setting; computers $1000 or less; as well as assorted computer equipment $500 or less.

The price limits are for each item – not the total amount spent for all purchases, the release said. For example, a family could purchase three computers tax-free as long as each computer did not exceed the $1,000 limit per computer.

Details on the tax holiday, including which items are excluded from gross receipts tax, can be found on the state’s Taxation and Revenue web site at