Wednesday, August 03, 2005

Tax Holiday NEXT year

There's some excitement about the sales tax holiday passed by the legislature this year. What isn't really getting out is that the holiday doesn't take effect until NEXT year, August 2006. :-(

Here's the best article so far on the subject from the Shelbyville Times-Gazette:

Sales tax holiday -- a year from now

Friday, July 22, 2005

There's good news and bad news. The good news is that Tennessee will be getting a sales tax holiday in early August.

The bad news is that it won't happen until next year.

Earlier this year, the Tennessee General Assembly passed Public Chapter 398 which established an annual sales tax holiday beginning in August 2006.

The holiday will start each year at 12:01 a.m. on the first Friday in August and ends at 11:59 p.m. on the following Sunday.

During the holiday, clothing with a price of $100 or less per item, school supplies with a price of $100 or less per item; and computers for less than $1,500 are exempt from sales and use tax.

There are a lot more details in the article to include definitions of what is and isn't included and layaway policies . I suggest reading the entire thing.


Anonymous said...

I noticed this a while ago and the "convenient" scheduling for back-to-school (although we don't want you getting educated by purchasing actual books). I haven't heard where the wise ones at TEA are advising taxpayers to buy their listed "extra" school supplies since WalMart is to be boycotted.

I suspect it will be the equivalent of trying to buy milk on the evening a snowstorm is predicted.

Eric Holcombe

Kay Brooks said...

Oooh. I forgot I wasn't supposed to be shopping at Wal-Mart. Oh, I know, I was only there doing "investigation" for the blog. Yeah, yeah, that's the ticket.