Shoppers: Prepare for Sales Tax Holiday
CHATTANOOGA (WRCB) – Stores and shoppers are preparing for the annual Tennessee Sales Tax Holiday.
The Sales Tax Holiday is a three-day statewide waiver on the nearly 10% state sales tax for school-related products such as clothes, supplies and computers.
This year's sales tax holiday is scheduled for August 5-7.
"The annual Sales Tax Holiday was designed with Tennessee families in mind, providing savings for families, especially as students begin to prepare for the upcoming school year," Gov. Bill Haslam said.
The holiday begins Friday, August 5 at 12:01 a.m. and ends Sunday, August 7 at 11:59 p.m. During the designated three-day weekend, consumers will not pay state or local sales tax on select clothing with a price of $100 or less per item, school and art supplies with a price of $100 or less per item, and computers with a price of $1,500 or less.
"As in years past, last year's tax-free weekend was very successful, providing Tennessee taxpayers nearly $8.6 million in tax savings" said Revenue Commissioner Richard H. Roberts. "We are hopeful that all Tennessee shoppers will take advantage of the tax relief provided by the 2011 Sales Tax Holiday."
Examples of exempt items include:
· Clothing: Shirts, dresses, pants, coats, gloves and mittens, hats and caps, hosiery, neckties, belts, sneakers, shoes, uniforms whether athletic or non-athletic and scarves
· School Supplies: Binders, book bags, calculators, tape, chalk, crayons, erasers, folders, glue, pens, pencils, lunch boxes, notebooks, paper, rulers and scissors
· Art Supplies: Clay and glazes; acrylic, tempera and oil paints; paintbrushes for artwork; sketch and drawing pads; and watercolors
· Computers: Central processing unit (CPU), along with various other components including monitor, keyboard, mouse, cables to connect components and preloaded software (Note: While the CPU may be purchased separately, other items must be part of a bundled computer package in order to be eligible.) iPads and other tablet computers are eligible for tax exemption, while video games and consoles are not.