Tennesseans will get a break and businesses will get a boost as a result of this year’s state sales tax holiday.
The holiday is slated to begin on Friday Aug. 7 at 12:01 p.m., and continue through the weekend until 11:59 p.m., on Aug. 9, according to the Tennessee Department of Revenue (TDR).
During the holiday, clothing and school supplies with a price of $100 or less per item, and computers with a price of $1,500 or less per item will be exempt from the state sales and use tax, according to the TDR. Local governments are held harmless and are reimbursed lost sales tax revenues by the state.
The Tennessee Sales Tax holiday began in 2006.
It saved Tennesseans around $15 million dollars and since then residents have saved an average of $8 to $10 in tax savings each holiday, according to the TDR.
This holiday will stimulate much needed sales to local businesses, while providing citizens sales tax relief,” said state senator Ken Yager.
“As a teenager growing up in a working class family, I worked all summer to buy clothes for the new school year. I know how hard it is for parents to meet these needs in recessionary times. I encourage all the citizens of the 12th district to take advantage of the 2009 sales tax holiday,” Yager said. He encourages consumers to shop at home to help the local economy.
For more information or a detailed list of exempted items, visit the sales tax holiday web site at http://tn.gov/revenue/salestaxholiday or call 1-800-342-1003.