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Retailers Push For 2011 Back-To-School Tax Holiday
February 25, 2011
Pushing for a back-to-school sales tax holiday in August 2011, Florida retailers Thursday hailed a new study showing that last year’s three-day relief period actually put $7 million extra into state coffers.
The Washington Economics Group reported that during the Aug. 13-15 holiday during which sales taxes weren’t collected on certain school-related items, people bought a whole lot of other things not covered by the tax holiday.
During the period, the study found that sales of other taxable items were $115 million higher than taxable sales during the same weekend the previous year, which had no holiday. The extra taxes collected on those sales, after factoring in lost revenue for the tax holiday, still left the state with $7 million more than it otherwise expected to have.
In 2008 and 2009, the back-to-school tax break was suspended, with lawmakers citing lost tax revenue as the reason, despite claims at the time by retailers that such tax holidays would actually boost revenue.
Rick McAllister, president and CEO of the Florida Retail Federation, said the WEG report “puts hard data on a fact that retailers have known for some time.” WEG found that sales projections for August 2010 were surpassed by $289 million.
“It’s not only great for Florida’s families,” said McAllister, “but for Florida’s bottom line.”
Sen. Ellyn Bogdanoff, R-Fort Lauderdale, and Rep. Elizabeth Porter, R-Lake City, are sponsoring bills to hold the holiday again this August. Although McAllister noted that state revenues would be greater if the holiday were ten days instead of three, Bogdanoff said that wasn’t likely to happen.
Comments
3 Responses to “Retailers Push For 2011 Back-To-School Tax Holiday”
Last year I had already purchased my first graders school supplies and clothes before the tax break. If I remember correctly Alabama had theirs the week before school started. Have it at least a month before school starts.
I wish they would bring it back ,it does take a little of the economic bite out of back to school shopping. And to be honest I am probably more inclined to buy something else with the savings.
REGARDING:
“new study showing that last year’s three-day relief period actually put $7 million extra into state coffers.
“The Washington Economics Group reported that during the Aug. 13-15 holiday during which sales taxes weren’t collected on certain school-related items, people bought a whole lot of other things not covered by the tax holiday.”
??????? so if you don’t charge taxes, you take in more taxes ??????????
Not that I want to pay taxes (or die, despite the claim we have to do both), but I have to wonder if perhaps the sales of the other items wouldn’t have happened with or without the tax holiday.
Figures don’t lie, but liars sure can figure.
David contemplating the inevitable