New Mexico's 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 qualify for the deduction, clothing or shoes must be priced at less than $100 per unit. The price limit for desktop, laptop or notebook computers is $1,000, and for related computer hardware it is $500. School supplies for use in standard, general-education classrooms must be under $30 per unit. There are items specifically excluded by statute in all categories. Those items are always taxable.
This year’s Sales Tax Holiday is Aug. 8 - 10. As in previous years, the law exempts most clothing, footwear, school supplies and backpacks priced under $100 from sales and use taxes, which could save shoppers about $8 on every $100 they spend.
All sales of qualifying items made during the holiday period qualify for the exemption, including items sold online, or by telephone or mail. Lay-away plans can be used again this year to take advantage of the sales tax holiday.
This can be found on KVIA.com: KVIA Story Link