It’s holiday time in Florida…the sales tax holiday!

Trying to save money while budget planning for the back-to-school season?You’re in luck: this year, the sales tax holiday extended from the usual 3 days to 10 days and runs August 7 through August 16. Expect these items, among others, to be tax free:

• Clothing, footwear, wallets and bags costing $100 or less
• School supplies costing $15 or less per item
• $750 of the cost of personal computers and related accessories

Note: sporting equipment isn’t considered clothing and therefore taxable during this period. Handbags and purses that cost less than $100 are exempt from taxes but briefcases, suitcases and computer bags are not.During the sales tax holiday, you can’t average the price of items purchased as “buy-one-get-one-free” to qualify them for the exemption, but you can apply coupons issued by the retailer to reduce the price of an item to qualify for tax exemption.However, manufacturers’ coupons are not eligible because retailers receive reimbursement for the discounted amount, therefore not reducing the total amount received by the retailer.Eligible items sold as layaway qualify for exemption if—during the holiday period—they’re either delivered or placed on layaway.View a list from the Florida Department of Revenue of common tax exempt items here. If you purchase an item on this list during the holiday and you’re charged tax, take your receipt to the retailer and ask for a refund of the tax paid.Any other questions on tax-related issues or CPA services? Contact the experienced tax accountant team at Patrick & Robinson CPAs at Office@CPAsite.com or (904) 396-5400.