Community members have the opportunity to go back-to-school shopping without sales tax as part of Oklahoma's Sales Tax Holiday starting at 12:01 a.m. on Friday and ending at midnight on Sunday.
Deal mentioned that the tax free weekend was initially started due to the fact that shoppers routinely traveled to Texas to take advantage of one of the first states to adopt this program, and spent money away from their local establishments.
Qualified clothing and footwear - $100 or less per item; accessories are not tax-free.
If a retailer offers a discount to reduce the price of an eligible item to less than $100, the item will qualify for the sales tax exemption.
OH retail industry leaders say consumers are expected to take advantage of this year's sales tax holiday by spending about 10 percent more than last year, spread across brick and mortar and online retailers alike.
There are three categories of "back-to-school" items that are covered by the exemption. "Being able to save 6, 7, 8 percent is really big".
Back-to-school spending is expected to reach $83.6 billion this year nationwide, up 10 percent last year.Читайте также: Iran claims successful rocket test
This year's sales tax holiday was introduced by State Rep. John Patterson, D-Jefferson, and State Rep. Brigid Kelly, D-Cincinnati.
In Missouri, cities, counties, and districts have the option to not participate in the sales tax holiday.
And while local sales taxes are collected in 38 states, according to the Tax Foundation, those 16 are giving shoppers a break. School supplies include textbooks, notebooks, paper, pens, pencils, crayons, art supplies, rulers, book bags, backpacks, handheld calculators, chalk, maps and globes. The foundation also maintained that large businesses lobby for the holidays as a way to receive free advertising.
Q. Does Nebraska have a tax holiday?
The sales tax holiday is an annual event where consumers do not have to pay Iowa's sales tax.
Even though she knows stores will be crowded, Angela Miller plans to be out this weekend.
Gene Perry with Oklahoma Policy Institute said a common belief is sales tax holidays mean an overall economic boost from people buying more.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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