Avalara Taxrates > Blog > Sales Tax News > A Sales Tax Exemption Expiring on December 31, 2013 - Avalara

A Sales Tax Exemption Expiring on December 31, 2013


 Not after December 31, 2013.

On December 31, 2013, the general sales tax exemption allowed for residents of states without an income tax will expire. This will affect people who normally itemize deductions on federal income tax Schedule A (Form 1040).

The seven states without any income tax are: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Tennessee and New Hampshire tax only dividend and interest income.

Savvy taxpayers in these states should consider purchasing long-coveted big-ticket items before the 31st. Been thinking about replacing your television, computer, car? T’is the season.

Congress often extends expiring tax breaks, though it often waits until the final hour to do so. It’s possible this sales tax exemption will be extended--but unlikely. Other issues, like the Affordable Health Care Act and the budget, are front and center this year.

Expiring exemptions, new laws, rate changes: how do you keep track of sales tax changes?

Try an automated sales tax solution.

 

 


Gail Cole
Avalara Author
Gail Cole
Gail Cole
Avalara Author Gail Cole
Gail began researching and writing about sales tax in 2012 and has been fascinated with it ever since. She has a penchant for uncovering unusual tax facts, and endeavors to make complex sales tax laws more digestible for both experts and laypeople.