The Annual New Mexico Gross Receipts Tax Holiday has returned beginning at 12:01 a.m. on Friday August 6th, and concluding on Sunday, August 8th at midnight. During this time, the law provides a deduction from gross receipts for retail sales of clothing, shoes, schools supplies, and qualifying computer items, etc., allowing the retailer to sell the items tax free. For more specific information on what is covered, visit tax.newmexico.gov/news-alerts.