Mark Your Calendar- Discover When New Mexico’s Tax-Free Weekend is Scheduled for Maximum Savings!

When is tax free weekend in New Mexico? This is a question that many residents and visitors alike are eager to know, especially when it comes to shopping and saving money. Tax free weekends are a great opportunity to purchase essential items without paying sales tax, making it a highly anticipated event in the state.

Tax free weekends in New Mexico typically occur during the summer months, providing a much-needed break for families and individuals looking to save on back-to-school supplies, clothing, and other household items. The specific dates for this event are announced by the New Mexico Taxation and Revenue Department, and they are usually scheduled for a Friday through Sunday period.

For the 2023 tax free weekend, New Mexico has designated August 4th through August 6th as the dates when residents can enjoy tax-free shopping. This means that qualifying items purchased during this period will not be subject to the state’s 5.125% sales tax rate.

It is important to note that not all items are eligible for the tax-free weekend. The New Mexico Taxation and Revenue Department specifies which items are exempt from taxes during this event. Generally, clothing and footwear that cost $100 or less per item are exempt, as well as school supplies that cost $15 or less per item. This includes items such as pens, pencils, notebooks, and backpacks.

While tax-free weekends can be a great time to save money, it is crucial to plan ahead and understand the rules to maximize your savings. Here are some tips to help you make the most of New Mexico’s tax-free weekend:

1. Check the list of eligible items: Before heading out to shop, review the list of qualifying items to ensure you are purchasing items that are exempt from taxes.
2. Shop early: Tax-free weekends can be very busy, so it is advisable to shop early in the weekend to avoid long lines and crowded stores.
3. Compare prices: Even though you won’t be paying sales tax, it is still a good idea to compare prices between different retailers to ensure you are getting the best deal.
4. Look for sales: Many retailers offer additional discounts or promotions during tax-free weekends, so be on the lookout for these opportunities to save even more.

By following these tips and staying informed about the tax-free weekend dates in New Mexico, you can enjoy tax-free shopping and save money on essential items for your family. So mark your calendars for August 4th through August 6th, and get ready to take advantage of this exciting event!