The NM Tax & Revenue Dept. has extended the filing deadlines for those impacted by the tragedy of the Ruidoso wildfires. In an official press release, they said that taxpayers who were supposed to file their returns on June or July 25 now have until November 1 to do so. Additionally, individuals or businesses with income tax payments due on June 17 now have until September 17 to make their payments. Read more HERE.
The Gross Receipts Tax Holiday in NM is happening from 12:01 a.m. on Friday, Aug. 2 until midnight on Sunday, Aug. 4. During this time, the NM Tax & Revenue Dept. will not collect gross receipts tax, allowing for tax-free purchases of certain items.
For purchases to be tax-free there are a few restrictions: Clothing and shoes must be under $100 each, while desktops, laptops, and tablets must be $1,000 or less, among other restrictions. Refer to pages 6-14 of this document for a list of items.