Ahead of the annual New Mexico Gross Receipts Tax Holiday, NFIB New Mexico is urging consumers to support local businesses. The tax holiday begins on Friday, July 25, and continues through the weekend. During this period, the state suspends the collection of gross receipts tax on certain items, allowing consumers to purchase them tax-free.
“Main Street businesses are the foundation of our economy, creating good-paying jobs and supporting charitable organizations that keep our communities thriving,” said NFIB State Director Jason Espinoza. “When you shop locally, especially during the gross receipts tax holiday weekend, more of your hard-earned dollars stay within your community. We hope that New Mexico families will turn to their small businesses for their back-to-school supplies.”
According to the New Mexico Department of Taxation & Revenue, the 2025 Tax Holiday starts at 12:01 AM CT on Friday, July 25, and ends Sunday, July 27 at midnight. During this time, a deduction from gross receipts for retail sales of qualifying tangible personal property is provided by law; effectively allowing retailers to sell these items “tax free.”
For more information on the tax holiday and qualifying purchases, CLICK HERE.
