Oklahoma Retailers Expect Soaring Sales On Sales Tax Holiday

Once again, Massachusetts residents will be able to benefit from the state’s tax free holiday weekend, just in time for back to school.

“In addition to our record funding for K-12 public schools, we also included a 10-day Back-to-School Sales Tax Holiday which will allow Florida families to prepare for school to start and save money on supplies.”

“It’s definitely going to get a lot of parents out”, Schlachter said. “I don’t think it will be like Black Friday weekend”.

According to the Institute on Taxation and Economic Policy, sales-tax holidays cost states about $300 million annually.

This specific sales tax holiday, which only applies to businesses within Ohio, will begin at 12:01 a.m. Friday, August 7 through Sunday, August 9 at 11:59 p.m. During this time all in-store and online vendors are required to waive the collection of the state’s sales tax on designated items.

School supplies priced at $20 per item or less are tax free, too; however, that means no big ticket items like phones, laptops or computers.

Shoppers are already out getting items and checking their back-to-school supplies lists twice. “They’ll see a spike during the sales-tax holiday of revenue, and then it goes back down”.

Jaimie St. Marie says, “It is a little bit of a sticker shock to be honest with you, three kids, it gets expensive very quickly”. Each item must cost $100 or less. If his mom had shopped during the tax holiday, she could have saved $15.02. But research from the University of Cincinnati Economics Center estimated an nearly 5 percent boost in sales during a sales tax holiday, with average families saving about $38.

Gov. Charlie Baker on Thursday morning signed into law the bill suspending the state’s 6.25 percent sales tax for most purchases that weekend.

Lists of clothes and school items that qualify for the tax break are available in English and Spanish on the Comptroller’s website.

Research from Florida TaxWatch, the state’s independent nonprofit watchdog, shows sales tax holidays are a good way to keep Floridians’ hard-earned money in their own pockets, and is one opportunity for broad-based tax relief that can help all taxpayers.

All sales of qualifying items made during the holiday period qualify for the exemption, including items sold over the Internet, television or by mail. Save on up to $2,500 worth of items of tangible personal property (excluding leases, vehicles or meals).