Florida Chamber Encourages Shoppers to Save Money This Weekend
Beginning this Friday, August 1 and lasting through Sunday, August 3, many Florida residents will take advantage of our state’s annual “Back-to-School” sales tax holiday. The Florida Chamber of Commerce encourages shoppers to take advantage of this opportunity to purchase select items tax free.
“During this sales-tax holiday families will be able to save money on school supplies and other back-to-school items that will set students up for success in the upcoming school year,” said Governor Scott in a statement. “We are proud to offer this sales-tax holiday as it will result in direct savings for Florida families as they prepare for the school year.”
According to the Florida Department of Revenue, no Florida sales tax or local option tax will be collected on:
- Sales of clothing, footwear, and certain accessories selling for $100 or less per item,
- Certain school supplies selling for $15 or less per item, or
- The first $750 of the sales price for computers and certain computer-related accessories when purchased for noncommercial home or personal use.
Considering Florida’s general sales tax rate is six percent, shoppers can expect to save at least that percentage, and potentially more considering local-option taxes, on all applicable items.
“The sales tax-free holiday is an excellent opportunity for families to stock up on the supplies their children need for the coming school year,” said Commissioner of Education Pam Stewart. “I appreciate Governor Scott’s dedication to ensuring families have this much-deserved break.”
Florida’s tax free shopping weekend is an ideal reminder of the Florida Chamber’s fight for e-fairness and the need to protect Florida businesses by closing the Internet sales tax loophole that lets government pick winners and losers.
During the 2014 Florida Legislative Session the Florida Chamber of Commerce proposed closing the Internet sales tax loophole in exchange for lowering other state taxes, such as the communication services tax that is charged to every cell phone bill in Florida. Unfortunately, our efforts were unsuccessful. Last year, renowned economists Art Laffer and Donna Arduin conducted a study showing that closing the online sales tax loophole could lead to more than 107,000 new jobs in Florida and 1.5 million new jobs nationwide in the next decade.
At the Florida Chamber, we will continue to work for tax cuts that put more money back into the pockets of Florida’s families.
The Florida Department of Revenue has released a list of all the items that will be tax exempt this weekend along with FAQ for businesses and taxpayers on their website.