Bussiness
Certain New Mexico items will be tax-free on Small Business Saturday
A plethora of items qualify – toys, games, electronics, books, sporting goods and more – as long as them item costs less than $500.
SANTA FE, N.M. — The New Mexico state government is encouraging you to shop local by making certain local items tax-free on Small Business Saturday.
Saturday, Nov. 30, is New Mexico’s Small Business Saturday Tax Holiday. What that means for you is a wide variety of items will qualify for tax-free status, as long as the price is under $500 per item (gift cards don’t qualify).
Qualifying businesses must maintain its primary place of business in New Mexico and employ no more than 10 employees at any point during the year. Businesses operating under a franchise agreement also don’t qualify.
According to the New Mexico Taxation & Revenue Department, these types of items are tax-free:
- Clothing
- Accessories
- Sporting goods
- Tools
- Books
- Art
- Cosmetics
- Musical instruments
- Cookware
- Bedding
- Furniture
- Toys, games and electronics
The tax holiday begins Saturday at 12:01 a.m. and ends at 11:59 p.m. For more information, visit this website here.
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