Three day sales tax holiday underway in Ohio

I’ve got to think it will draw people into stores here who are looking for clothes and school supplies.

Governor Rick Scott joined the Office Depot Foundation to hand out backpacks and school supplies to students and parents for the 15th annual “National Backpack Program” event.

“So we can get it in our customers’ hands no matter what time they’re in”, said store manager Paul Owings. USA Today reports that the estimated losses in sales tax revenue in the state will be offset by consumers spending more on taxable impulse buys when they go shopping.

The amount of taxes cities and counties will be reimburse during the holiday is calculated using a formula based off sales taxes generated from previous years, said Paula Ross, Oklahoma Tax Commission spokeswoman. “For three days, you will pay no state sales tax on qualifying purchases”.

The state is waiving the 4% sales tax on purchases made Friday and Saturday. Louisiana’s tax break saves shoppers its 4-percent sales tax on all items of $2,500 or less, with the exception of vehicles, meals, and various services. The holiday begins today and ends on Sunday, August 15. The Retail Association estimates that Alabamians will spend nearly $1.02 billion on back-to-school purchases this year. And get more sales tax holiday shopping tips from Ms. Cheap here. The sales tax holiday is a big weekend for retailers, particularly those that exclusively sell items included in the tax exemption, such as shoe or clothing stores, said Nancy Dennis, spokeswoman for the Alabama Retail Association.

Many other questions about the tax holiday can be answered by going to a “Frequently Asked Questions” document posted at the Ohio Department of Taxation’s website. Target usually has a kiosk set up with the school supply list for every grade which is convenient for narrowing down what you need to buy.