You might want to wait before you shop.
S.B. 243 enacted a one-time sales tax holiday to occur only in 2015.
It starts on Friday, August 7, at 12:01 a.m. and ends on Sunday, August 9 at 11:59 p.m.
Can multiple qualifying items be purchased in a single tax-exempt transaction?
For example, would the purchase of two shirts, two pair of pants, a pair of shoes and a jacket (each item costing $50, total purchase $300) be tax exempt?
Answer: There is no limit on the amount of the total purchase. The qualification is determined item by item.
Does the $75 exemption apply to the first $75 of an item of clothing? In other words, if the selling price of an item of clothing is $80, is the first $75 exempt from sales tax?
No. The exemption applies to items selling for $75 or less. If an item of clothing sells for more than $75, tax is due on the entire selling price.
During the holiday, the following items are exempt from sales and use tax:
- Clothing priced at $75 per item or less
- School supplies priced at $20 per item or less; and
- School instructional material priced at $20 per item or less.
Note that items used in a trade or business are not exempt under the sales tax holiday.