North Carolina Sales Tax Holiday August 2012
- Sales Tax News
- Jul 20, 2012 | Logan Conner
The North Carolina Sales Tax Holiday occurs the first weekend in August. This year’s holiday occurs August 3-5. The North Carolina Department of Taxation has updated their Sales Tax Holiday Bulletin to reflect changes.
During this period “retail sales of specific items of tangible personal property are exempt from all State and local sales and use taxes.”
The sales tax holiday applies to:
- Clothing, shoes, or school supplies sold for less than $100;
- School Instructional materials up to $300 per item;
- Sports and recreational equipment no more than $50 per item;
- Computers of $3500 or less per item and related supplies up to $250 (excluding e-readers).
Examples of clothing include:
- Jogging Suits
Computer supplies excludes monitors, speakers, keyboards, and mice; when "not sold in conjunction with a central processing unit".
School supplies (under $100) include notebooks, binders, book bags (but not backpacks for hiking or similar activities) and other small school supply items used in the normal course of a school day.
Sales Tax Returns and Forms
Retailers are instructed to report exempt sales of qualifying items sold during the Sales Tax Holiday on Line 3, Receipts Exempt From State Tax, of Form E-500.