Florida retailers are counting on brisk sales this weekend – driven by a tax free shopping holiday for clothes and school supplies.
Florida’s first tax free shopping holiday was in 1998. It was aimed at giving parents shopping for back to school items a break. But President of the Florida Retail Federation Rick McCallister says there’s also a ripple effect.
“ People are out there shopping, the family is together and they buy refrigerators and they buy other things that are on sale on special because they’re out in the store’s they see things and they buy them, and so historically the Florida department of revenue has not experienced a reduction in revenue they experience an increase,” he said.
The state dropped the sales tax holiday for two years but it returned in 2010. Depending on what county shoppers live in they can save 6 to 7-1/2 percent in sales tax. The exemption applies to most school supplies with a value up to $15 dollars and clothing costing up to $75 dollars. The holiday begins Friday and runs through Sunday.
Friday, 12 August 2011 07:05
Tax Free HolidayWritten by Valerie Alker