If you’re a parent, please don’t moan yet. If you don’t have kids and drive in South Florida, please don’t complain yet. Yes, I’m going to talk about back-to- school, but don’t worry, there are still three weeks until classes begin. Most students in South Florida still have time to enjoy time off and adults can enjoy less congestion on the roads. This week, I want to remind everyone about tax free days, a way to shop and save.
The tax free holiday or tax free days starts at 12:01 a.m. on August 4th this year and runs through 11:59 p.m. on Sunday, August 6th in Florida. State leaders passed the legislation to give parents a break and consumers the ability to shop and save.
The Florida Retail Federation estimates Florida consumers will save about $39 million this year during the tax free holiday. The good news is that you don’t have to be a student or parent to save, everyone, including small business owners, can share in the savings. Here’s what you’ll be able to shop and save on:
- PERSONAL COMPUTERS & ACCESSORIES – Computers and accessories are often the high priced ticket item on any back to school shopping list. The good news is, you don’t have to have kids to enjoy the savings. The tax free holiday allows you to purchase any personal computer or related accessory that costs $750 or less per item without paying tax. That means, if you’re purchasing a computer that costs $750, you could save $45-$52 in sales tax. Now that’s a good deal. Keep in mind if the cost of the item is more than $750 you’ll have to pay tax, but if you buy multiple items that cost $750 or less, the exemption will apply to your entire purchase.
- CLOTHING, SHOES & ACCESSORIES – During the tax free weekend, clothing, shoes and accessories that cost $60 or less per item will be exempt from sales tax. Just like personal computers, there’s no limit to the number of items you can purchase during the tax free holiday.
- BOOKS & SUPPLIES – The tax free holiday is a good time to stock up on most school supplies selling for $15 or less. Small business owners can take advantage of the savings too, so if you run through copy paper or Sharpies like water, then now’s a good time to buy in bulk.
Florida isn’t the only state participating in the tax free holiday. The Federation of Tax Administrators says 16 of 45 states that collect sales taxes are offering some form of tax holiday. The holiday runs anywhere from three days to a full week depending on the state.
I always love it when I get a good deal. If you ever dreamed about not having to pay taxes, well now’s your chance to make that dream come true, at least for 3 days in Florida. I hope you find some good deals and take advantage of not having to pay sales tax. So, here’s to a weekend full of shopping and saving!
