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One More Reason To Shop Local On Small Business Saturday: Tax-Free Holiday!

on November 18, 2019 - 2:26pm

CHAMBER News:

 

The 2018 New Mexico Legislature passed a law authorizing a one-day tax holiday that will remove state gross receipts taxes from a variety of retail products the Saturday after Thanksgiving, Nov. 30, also known as Small Business Saturday.

 

The tax-free shopping on this day applied to both 2018 and 2019.

 

"The 24-hour consumer tax relief measure applies to small businesses of 10 or fewer employees only; franchises, no matter how small, are exempted. It covers a wide range of products, including clothing, sporting goods, artworks, musical instruments, and furniture – as long as the cost of any individual product doesn’t exceed $500,” Los Alamos Chamber Director Ryn Herrmann said. “This is yet another great reason to shop local on Small Business Saturday!”

 

For more details, view the New Mexico House Bill, which lists all qualifying merchandise: https://www.nmlegis.gov/Sessions/18%20Regular/final/HB0079.pdf

 

For more information about Small Business Saturday in Los Alamos County visit losalamoschamber.com/small-business-saturday/ or contact Ryn Herrmann at 505.661.4807.

 

The Los Alamos Chamber of Commerce is a program of Los Alamos Commerce & Development Corporation; a private, not-for-profit economic and community development organization serving the Los Alamos area since 1983. LACDC serves as the umbrella organization for the Los Alamos Chamber of Commerce, Los Alamos MainStreet, Discover Los Alamos, Los Alamos Small Business Center, projectY cowork Los Alamos and the Los Alamos Research Park.


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