Anyone who needs to do back-to-school shopping for clothing and shoes will save money if they go this Friday or Saturday, thanks to Iowa’s annual Sales Tax Holiday.
Advertisement
Virginia’s existing three tax holidays – back to school in August, hurricane and emergency preparedness in May, and Energy Star and WaterSense in October – were combined into a single event by the 2015 General Assembly. The Florida Department of Revenue has published a nonexhaustive list of exempt clothing.
Among the items not excused from the state sales tax are jewelry, cosmetics, eyewear, wallets, items for use in a business or those placed on layaway or similarly deferred payment and delivery plans.
The sales tax holiday on select clothing and footwear is a lot like Black Friday meaning you have to do your homework to know which items are and are not a part of those sales before you start loading your cart.
According to the National Retail Federation’s “Back-to-School” survey, average families with school-aged children will spend $630.36 on electronics, apparel and other items this year, down from $669.28 in 2014. Work boots, for example, are eligible, but not if they have steel toes. The retailer can not sell each sweater for $55 to make the purchase qualify for exemption.
Advertisement
Online purchases of qualifying products will also be exempt from the sales tax as long as the orders are placed during the August. 7-9 exemption period and the sellers have the items available for immediate shipment. You can buy an eligible item over the tax-free weekend and exchange it later for the same item in a different size, color, and so on.
