Tax holidays are Friday and Saturday
(More complete information is in this week’s print issue of the Courier!)
JACKSON – For the third year in a row, Mississippians will see a discount when they purchase back-to-school clothing and footwear.
The Sales Tax Holiday, beginning 12:01 a.m. Friday, July 29, and ending 12:00 midnight Saturday, July 30, provides a sales tax exemption for most items of clothing and footwear priced less than $100.00 per article.
“The sales tax holiday is a win-win for everyone,” Lt. Gov. Phil Bryant said. “The consumer saves money, small businesses prosper, jobs are kept and created, and restaurant and other entities flourish from the added traffic.”
The Sales Tax Holiday legislation, aimed at spurring Mississippi’s economy in these tough economic times, passed in 2009 with bipartisan support.
The tax holiday can be revenue neutral or even a revenue generator for the state. The consumer saves 7 percent on each qualified purchase. The retailer for one weekend competes on a level playing field with Internet companies that pay no sales tax. The holiday also increases sales during a traditionally slow time of the year. The State benefits as well by providing a tax break to the taxpayers and receives additional income from out-of-state shoppers.
The tax holiday also coincides with the sales offered by many retailers who are making room for their fall and winter clothing.
Bryant said he would like to see the Sales Tax Holiday extended to include back-to-school supplies and text books.
More information regarding the holiday can be found on the Department of Revenue’s website: http://www.dor.ms.gov/.