SENATE BILL

57th legislature - STATE OF NEW MEXICO - second session, 2026

INTRODUCED BY

Nicole Tobiassen

 

 

 

 

 

AN ACT

RELATING TO TAXATION; PROVIDING A GROSS RECEIPTS TAX HOLIDAY DEDUCTION FOR SALES OF CERTAIN FIREARMS AND FIREARM, CAMPING AND FISHING SUPPLIES FROM SEPTEMBER 8 TO DECEMBER 31 OF EACH YEAR.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. A new section of the Gross Receipts and Compensating Tax Act is enacted to read:

     "[NEW MATERIAL] DEDUCTIONS--GROSS RECEIPTS TAX--CERTAIN FIREARMS AND FIREARM, CAMPING AND FISHING SUPPLIES.--

          A. Receipts from the sale at retail of the following types of property may be deducted from gross receipts if:

                (1) the sale occurs annually during the period beginning at 12:01 a.m. on September 8 and ending at midnight on December 31; and

                (2) the sale is for:

                     (a) fishing tackle and bait if the sales price is five dollars ($5.00) or less if sold individually or ten dollars ($10.00) or less if multiple items are sold together;

                     (b) camping flashlights and lanterns and tackle bags and boxes if the sales price is thirty dollars ($30.00) or less;

                     (c) camping stoves, portable hammocks, collapsible camping chairs and sleeping bags if the sales price is fifty dollars ($50.00) or less;

                     (d) fishing rods and reels if the sales price is seventy-five dollars ($75.00) or less if sold individually or one hundred fifty dollars ($150) or less if sold as a set;

                     (e) camping tents if the sales price is two hundred dollars ($200) or less;

                     (f) firearm ammunition;

                     (g) firearms, including pistols, rifles and shotguns;

                     (h) the following firearm accessories: 1) charging handles; 2) cleaning kits; 3) holsters; 4) pistol grips; 5) sights; 6) optics; and 7) stocks;

                     (i) bows;

                     (j) crossbows; or

                     (k) the following accessories for bows and crossbows: 1) arrows; 2) bolts; 3) quarrels; 4) quivers; 5) releases; 6) sights or optics; and 7) wristguards.

          B. Receipts for sales made by a business that operates under a franchise agreement shall not be deducted pursuant to the provisions of this section.

          C. As used in this section:

                (1) "ammunition" means an object consisting of:

                     (a) a fixed, metallic or nonmetallic hull or casing containing a primer;

                     (b) one or more projectiles or one or more bullets; and

                     (c) gunpowder;

                (2) "bow" means a device:

                     (a) consisting of flexible material having a string connecting its two ends, either indirectly by cables or pulleys or directly, for the purpose of discharging arrows;

                     (b) that propels arrows only by the energy stored by the drawing of the device; and

                     (c) that is handheld, hand-drawn and hand-released;

                (3) "crossbow" means a device:

                     (a) consisting of flexible material having a string connecting its two ends, either indirectly by cables or pulleys or directly, affixed to a stock for the purpose of discharging quarrels, bolts or arrows;

                     (b) that propels quarrels, bolts or arrows only by the energy stored by the drawing of the device; and

                     (c) that uses a non-handheld locking mechanism to maintain the device in a drawn or ready-to-discharge condition; and

                (4) "firearm" means a weapon capable of firing a missile and includes a pistol, rifle or shotgun using an explosive charge as a propellant."

     SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2026.

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