August –Time for your Annual (Sales Tax) Vacation!
Attention Florida residents – your annual sales tax holiday is right around the corner, and you may spend part of this year’s “vacation” in some different places than in the past.This year’s back-to-school sales tax holiday runs from August 1 through August 3, with some updated amounts to enjoy. New this year:
- Clothing, footwear and accessories priced at $100 or less will be exempt from sales tax – an increase from $75 in the past.
- The first $750 of a computer’s/accessories’ sales price will be exempt if it’s purchased for noncommercial use. Previously, computers and related accessories priced at $750 or less were exempt. So you can still purchase the top-of-the-line item and enjoy a (partial) sales tax break.
As in the past, select school supplies costing $15 or less are included.Sorry bookworms and athletes – books and sporting equipment aren’t exempt. For complete guidelines, see the Department of Revenue’s website.Also, don’t plan on purchasing your clothing and school supplies at the theme park, hotel or airport – sales at these establishments are taxable as usual.Not your favorite holiday? Watch for the sales tax holiday on Energy Star and WaterSense products, coming up September 19 – 21.Enjoy your tax holiday! For assistance with taxes, accounting, and other matters (because Patrick & Robinson CPAs is the place to turn when you don’t know where to go), we can help. Contact us at Office@CPAsite.com or 904-396-5400.
