New Mexico – Gross Receipts Tax Holiday August 1, 2014 through August 3, 2014

SALT Report 3417 – The tax holiday begins at 12:01 a.m. on the first Friday of August and concludes on the following Sunday at midnight.

During that time the law provides a deduction from gross receipts for retail sales of qualifying tangible personal property; in effect allowing the retailer to sell the items “tax free.” To view a detailed list of exempt and nonexempt items, please click the link below.

For Further Information:

LIST of TAXABLE and NONTAXABLE ITEMS for NEW MEXICO’S GROSS RECEIPTS TAX HOLIDAY