Many States Offer Back-to-School Sales Tax Holidays in 2013
by Terri Eyden on
Maryland: From August 11 to 17:
- Items of clothing and footwear with a taxable price of $100 or less are exempt. Accessories are not included.
Missouri: From August 2 to 4, the following items are exempt:
- Noncommercial purchases of clothing (but not accessories) with a taxable value of $100 or less per item.
- School supplies up to $50 per purchase.
- Computer software with a taxable value of $350 or less.
- Computers and computer peripherals up to $3,500.
Localities may opt out. The tax holiday does not apply to any retailer when less than 2 percent of its merchandise offered for sale qualifies for the holiday. In such a case, the retailer must offer a sales tax refund in lieu of the holiday.
New Mexico: From August 2 to 4, the following are exempt:
- Footwear and clothing (not accessories or athletic or protective clothing) with a sales price of less than $100 per item.
- School supplies with a sales price of less than $30 per item.
- Computers with a sales price of $1,000 or less per item.
- Computer peripherals with a sales price of $500 or less per item.
- Book bags, backpacks, maps, and globes with a sales price of less than $100 per item.
- Handheld calculators with a sales price of less than $200 per item.
Retailers are not required to participate.
North Carolina: From August 2 to 4, the following are exempt:
- Clothing and school supplies with a sales price of $100 or less per item.
- School instructional materials with a sales price of $300 or less per item. Sport/recreational equipment with a sales price of $50 or less per item.
- Computers with a sales price of $3,500 or less.
- Computer supplies with a sales price of $250 or less per item.
The exemption does not apply to clothing accessories, any item sold for use in a trade or business, educational software, furniture, luggage, stereo equipment, DVD players and similar equipment, and protective equipment.
Oklahoma: From August 2 to 4:
- Items of clothing and footwear with a sales price of less than $100 are exempt.
The holiday does not apply to the rental of clothing or footwear, the sale of special clothing or footwear primarily designed for athletic or protective use, or the sale of accessories.
You may like these other stories...
Camp to Obama: Let’s talkHouse Ways and Means Committee Chairman Dave Camp (R-MI) said on March 6 there are some areas in his proposal to overhaul the tax code where he thinks he can work with President Obama, Bernie...
The tax-filing season got off to a slow start because the IRS said it needed more time to gear up for this year’s returns. But now the pace has picked up considerably.About 40 percent of the returns expected to be...
Tax preparers have completed a lot of returns since the season began and will complete a lot more before April 15 – but that's just the beginning for many accountants and their clients. In the weeks and months that...
Upcoming CPE Webinars
BAR is an acronym for: Boundaries, Authority and Role. This simple tool will provide participants with a solid understanding of leadership essentials to improve their performance.
This material is designed to provide a start-to-finish overview of how to plan and complete high-quality small audits efficiently.
In this session Excel expert David H. Ringstrom, CPA shares numerous techniques that you can use to work with charts more efficiently.
Key Accounting and Reporting Issues for Nonprofits No. 1: Overview and Statement of Financial Position
This material focuses on non-profit organizations organization, accounting and reporting.