Attention shoppers! This year Florida is extending the sales tax holiday to 10 full days. Starting at 12:01 a.m. Friday August 7 until 11:59 p.m. Saturday August 16, 2015, there will be no sales tax collected on clothing, school supplies, or personal computers and accessories. However, like most things having to do with the government, there is a lot of small print that indicates items not included. So, we’re breaking it down for you. How can you get the most bang for your buck? What should you be sure to snatch up and what should you hold off on. Read on to find out!
Savings Break Down
How much will you actually save by completing your back to school shopping during the sales tax holiday? In Pinellas County the sales tax is 7%. Now, when you think about it, you have probably never been enticed by a 7% off sale but let’s do a little math based on some research. According to the National Retail Federation, the average family with children attending Kindergarten through 12th grade will spend $630 on items for school. That number jumps to $899 if you have a college student. The first family would save about $44 during the tax holiday and the college kid family would save about $63. Perhaps the key here is to combine the tax holiday with stores offering the most discounts and you could end up with a sizable savings.
What’s In? What’s Out?
There’s a detailed explanation here on what is and what’s not included in the sales tax holiday. Here’s the break down from the Florida Department of Revenue:
• Clothing, footwear, and certain accessories selling for $100 or less per item
• Certain school supplies selling for $15 or less per item
• Personal computers and certain computer-related accessories on the first $750 of the sales price, when purchased for non-commercial home or personal use.
Here’s where it gets a little tricky. Let’s say you want to buy you daughter a new dress for school. It costs $103.00. Well, because the dress is more than a hundred dollars, you will have to pay sales tax on the whole thing. Here’s how the Florida Department of Revenue describes what is not included in the holiday:
• Any item of clothing selling for more than $100;
• Any school supply item selling for more than $15;
• Books that are not otherwise exempt;
• Rentals or leases of any of these items;
• Repairs or alterations of any of these items; or
• Sales of clothing, school supplies, or computers and computer-related accessories in a theme park, entertainment complex, public lodging establishment, or airport.
There is a long list of clothing that is included and a few things that have been left out. For example, if your child needs a hunting vest you’re in luck! It’s included in the sales tax holiday. However, if your child really needs new football pads for the team buying them during the holiday won’t help you because they are considered taxable.
Retail Deals
Target: Target is offering free shipping on its website for a limited time. The store is also giving shoppers a $5 gift card if they buy $25 of school supplies. Backpacks are also up to 25% off.
Walmart: Walmart.com has free shipping for purchases over $35. The retailer has several computers and laptops on special.
Office Max: Select High Sierra backpacks are 50% off. Select Crayola crayons are just $3. Spiral Notebooks start as low as $2.
Amazon: The online retailer has a College 101 section with tons of research on the best products for college life.
These are just a few of the numerous school supply sales. Old Navy, for example, is offering up to 60% off back-to-school clothing for kids.
No kids no deal?
If you’re an empty nester or you simply don’t have children you can still take advantage of the sales tax holiday. Everything from baby diapers to adult diapers are included in the tax holiday.
We hope these tips will help you save some money during Florida’s back-to-school sales tax holiday!
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