On Saturday, November 30th, New Mexico will be hosting its Small Business Saturday Tax Holiday, encouraging citizens to shop locally. The initiative allows for various items to be purchased tax-free as long as they are priced under $500 each. Qualifying products include clothing, accessories, sporting goods, tools, books, art, cosmetics, musical instruments, cookware, bedding, furniture, toys, games, and electronics. However, gift cards are not eligible for the tax exemption. To qualify, businesses must be based in New Mexico, employ no more than 10 people, and not operate under a franchise agreement. The tax holiday starts at 12:01 a.m. and ends at 11:59 p.m. Shoppers are encouraged to support local businesses and take advantage of the tax-free opportunity. For more information, visit the New Mexico Taxation & Revenue Department website.
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