Aug 5, 2011

iPad not part of tax holiday time

From the Alamogordo Daily - By Barry Massey, Associated Press Writer - Shoppers looking for a new laptop computer can buy it tax-free this weekend in New Mexico, but those hoping for tax savings on a tablet computer like Apple's iPad are out of luck. Tablet devices like the highly popular iPad remain subject to taxation under the state's annual tax holiday, which starts Friday and runs through Sunday. That tax treatment likely will change next year, however. Taxation and Revenue Deputy Secretary John Monforte said Wednesday the agency is revising the regulations for New Mexico's tax holiday because they haven't kept pace with changes in technology, such as tablets like the iPad that have computer functions. Those revamped regulations should be in place for next year's tax holiday, he said. The tax holiday is intended to help shoppers with school-age children, but it's not limited to them. Anyone can benefit if they buy covered items at a retailer participating in the tax-relief program. Read more

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