Customers in New Mexico can buy qualifying items during the tax-free weekend without having to pay any state or municipal sales taxes. Clothing and footwear with a unit cost of less than $100 are eligible items. Shoes, socks, dresses, pants, and shirts fall within this category. Additionally free from taxation are binders, notebooks, and backpacks used for school that cost less than $30 each.
It’s vital to remember that some things, such as computers and accessories for them, cell phones, and televisions, are not exempt from tax on weekends. Additionally, purchases bought online or through catalogs are not included in the tax-free weekend.
In addition to the tax-free weekend, New Mexico provides retirees with a number of tax breaks. New Mexico’s property taxes may be exorbitant in some places, but the state provides low-income seniors and people with disabilities with a property tax rebate program. Social Security benefits and a portion of retirement income are also exempt from state income tax in the state.
New Mexico is a well-liked place for retirees to live after retirement. The state has a low cost of living, a pleasant climate, and a wide range of outdoor activities. A number of assisted living facilities and retirement complexes are also located in New Mexico.
In Las Cruces, New Mexico, the current sales tax rate is 7.875%. This includes both the local sales tax of 2.75% and the state sales tax of 5.125%. With the same distribution of state and local sales tax rates, Rio Rancho’s current sales tax rate is 7.875%.
Finally, the tax-free weekend in New Mexico provides a fantastic chance for consumers to save money on specific products. While not all things qualify for tax exemption, some do, including clothes, shoes, and school supplies. With a low cost of living and tax benefits for elders, New Mexico is also a well-liked destination for retirees. In Las Cruces and Rio Rancho, the current sales tax rate is 7.875%.
The query has nothing to do with the content. However, San Diego, California, has a 7.75% sales tax rate.
No, a CRS number is not required to be eligible for the tax-free weekend in New Mexico. The tax-free weekend is offered to all shoppers, regardless of whether they have a CRS number or not, and it applies to specific things including apparel, school supplies, and laptops.