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School Sales Tax Holiday To Return
June 8, 2011
Gov. Rick Scott has signed a bill that creates a three-day holiday from the state sales tax on many items starting August 12.
The sales tax holiday will include clothes and shoes up to $75 and school supplies valued at $15 or less. The popular sales tax holiday at back-to-school time saves 6 cents on every dollar spent. While it’s a sales tax cut for the careful shopper, retailers say it’s actually a big tax collection increase for the state.
Many consumers actually increase their purchases of non-covered items during that period, which often coincides with sales.
Comments
One Response to “School Sales Tax Holiday To Return”
It cost a lot to equip kids for school, Scott you boat is on course with this one. I never made it past economics 101, but I wonder what the benefits would be on having one day a year, tax free, on all purchases up to a predetermined amount, I know tax revenue would be lost, but could this stimulate sagging sales? Input please!