Annual tax holiday set for August

Freedom New Mexico

The state’s annual back-to-school tax holiday will take place Aug. 7-9, according to a release from Gov. Bill Richardson’s office.

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 $1,000 or less

• Computer equipment $500 or less.

The price limits are per item, and not on a total purchase basis.

The deal is not just for students and their families; anyone may participate.

It’s the fifth year for the gross receipts tax holiday.

“Every year New Mexicans look forward to the back-to-school tax holiday and this year the anticipation is even higher as families struggle through the current economic climate,” Richardson said.

“The tax holiday is much needed-relief for families across New Mexico, allowing them to address their children’s back-to-school needs without breaking their budgets.”

Information: www.tax.state.nm.us