For several years, we have had a sales tax holiday in Florida for "Back To School." This year it will run from August 12-14.
Most clothing purchases up to $75 and school suplies up to $15 are exempt from our 6% statewide sales tax and the local option tax where applied. There are some exceptions.
What's interesting from a retail standpoint is not that tax revenues are being dispensed with for 3 days, but that they will actually increase. The State is projecting that they will lose $25.6 million in tax dollars over the 3 days, but last year, revnues actually increased by $7 million as people bought more non-exempt items at the same time than they normally might have.
Go figure, reducing the tax charged actually increases revenues. Seem to me I've heard that a time or two.
─── For more information on my coaching and educational programs and services, visit my website stevehoffacker.com, or go to my other bloghomesalesinsights.com for additional sales tips, insights, and commentary. Listen to my free podcast messages at Steve Hoffacker's Happenings. Steve Hoffacker - Consultant, Coach, Author, Blogger, Photographer, Motivator, Teacher, & Strategist - for Realtors, Real Estate Sales Professionals, Home Builders, New Home Salespeople, Entrepreneurs, Small Business Owners, and Independent Sales Representatives. © Steve Hoffacker, 2011. All Rights Reserved.
