New MexicoProposal sets price limits for New Mexico back-to-school tax deductions
The introduced proposal would apply listed price limits to some New Mexico back-to-school purchases during a July weekend, if it takes effect.
What it does
The introduced proposal sets price limits for clothing, footwear, computers, and certain computer accessories to qualify for a gross receipts tax deduction during the back-to-school weekend. Special athletic or protective wear and accessories such as jewelry and handbags are excluded.
Argument forShoppers could qualify for a tax deduction on some higher-priced clothing and computer purchases during the back-to-school weekend.
Argument againstShoppers could owe gross receipts tax on clothing priced at $150 or more and computers priced above $1,500 during the weekend.
More detail
The proposal would apply stated price limits to clothing, footwear, computers, and certain computer accessories for the weekend tax deduction. The limits apply to retail sales of clothing, footwear, computers, and listed computer accessories. Clothing and footwear qualify only when priced below $150; computers qualify at $1,500 or less, and listed accessories qualify at $750 or less. Special athletic or protective clothing and footwear, and accessories such as jewelry and handbags, are excluded. The deduction applies to qualifying sales from 12:01 a.m. on the last Friday in July through midnight the following Sunday. The proposal lists July 1, 2026, as its effective date.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Mar 24action postponed indefinitelyLatest
- Jan 26germane
- Jan 23Sent to Senate Committees' Committee & Senate Tax, Business and Transportation Committee & Senate Finance CommitteeIntroduced
Taxes & Budget