Florida Sales Tax Holiday Approved by House
- Sales Tax News
- Feb 22, 2012 | Susan McLain
UPDATE: Sales tax holiday was established. Learn more about the holiday here....
The Florida sales tax holiday approval by the House has gotten quite a bit of press. “The bill establishes a 3 day non-recurring Sales Tax holiday for the weekend of August 3-5, 2012,” according to CBS Miami. The sales tax holiday would exempt clothing priced at $75 or less and school supplies costing $15 or less.
First Coast News reports that “[t]he sales tax holiday is always very popular among families and it proved very popular in the Florida House on Wednesday. Lawmakers passed the bill on a vote of 115 to 0.” The past few years have seen a reduction in the length of time allowed for the sales tax holiday. Since 1998, the holiday has been known to last 7-10 days in some years, “…but the last two years, it has been reduced to a three-day period.”
The cost to “…state and local governments [is] an estimated $31.8 million.” However, the Florida Retail Federation says that a 2010 study “…shows that the Back-to-School Sales Tax Holiday is a true win-win for Floridians.” The Federation states that the legislation saves money for families and increases revenue for the state.
State Representative Elizabeth Porter feels that residents of Florida have looked forward to the sales tax holiday each year and that this is a valuable opportunity for them to stretch their dollars. She states, “…not only is it a savings for the families but it’s also a boon for the retailers as well. So it stimulates the economy and helps out the families.”