The Franklin News-Post|
P. O. Box 250
310 Main Street, SW
Rocky Mount, Virginia 24151
Friday, July 25, 2014
Virginia's sales tax holiday is just around the corner for those preparing for the upcoming school year or just looking to refresh their wardrobe or stock up on office supplies.
Many clothing items, footwear, and school and office supplies will be sales tax-free from Friday, Aug. 1 through Sunday, Aug. 3.
During the three-day event, most school supplies that cost $20 or less each, as well as clothing items and shoes priced at $100 or less, will be exempt from Virginia's 5.3-percent state and local sales tax.
Spending $500 on qualifying items during the sales tax holiday would save the consumer $26.50 on exempt purchases.
Some items on the list of tax-exempt items include pens, pencils, notebook paper, scissors, binders, backpacks, construction paper, sneakers, hats, shirts, dresses, jeans, bathing suits, diapers and t-shirts.
There is no requirement that the purchases be made for school purposes, and all retailers who sell the exempt items are required to participate.
"This is the most universal of Virginia's three sales tax holidays, so it's been very popular among both consumers and businesses in Virginia," said Tax Commissioner Craig Burns. "Returning to class is an exciting time for students, but it can also be a stressful time for their parents. Foregoing the sales tax on some necessary purchases is especially beneficial to large families who are sending multiple children back to school."
The tax-exempt items are available to anyone shopping in the state, and there is no limit on the number of products you can buy tax-free as long as each one qualifies under the guidelines.
Online purchases of qualifying items are also tax-exempt during the sales tax holiday.
During this sales tax holiday, the ninth one so far, retailers may also choose to save taxpayers even more money by absorbing, or paying themselves, the sales tax on items that are not eligible for exemption. In past years, many stores have taken advantage of this opportunity and sold everything in their stores tax-free.
An all-inclusive list of school supplies, a list of exempt clothing and footwear items, guidelines for shoppers and retailers, and answers to frequently asked questions are available on the department's Sales Tax Holiday Information Center at www.tax.virginia.gov.
Virginia's other two sales tax holidays are for hurricane preparedness in May and for energy-efficient appliances and water-saving items in October.