While there are many changes in store for back to school 2020, one thing is not different – tax free weekend.
Set for Friday, July 31 and Saturday, Aug. 1 in Mississippi, the annual sales tax holiday is a temporary period when sales taxes are not collected or paid on the purchase of specific products.
Included on the list are clothing items like pants, shirts and blouses, dresses, coats, jackets, belts, hats, undergarments and multiple piece garments sold as a set. Footwear and accessories are on the list and include jewelry, handbags, luggage, umbrellas, wallets and watches. School supplies can also be purchased tax free during this time.
Sales tax is not due if the sale price of a single item is less than $100.
“During these uncertain economic times, I think we all need a little help,” said Rep. Nick Bain, who supported the passage of the sales tax holiday when it first appeared during the 2009 Legislative session. “The sales tax holiday provides the chance for business owners to keep more of their hard-earned money and saves the consumer money – it’s a win for everyone.”
Tennessee’s annual sales tax holiday will also take place on the same weekend and extend by one day. The period runs from Friday, July 31 through Sunday, Aug. 2.
During this time, consumers may purchase clothing, school supplies and computers and other qualifying electronic devices without paying sales tax. Certain price restrictions apply. For school supplies and clothing, the threshold for qualifying items is $200 or less. For computers and other electronics, the price threshold is $3,000 or less.
Tennessee has a second sales tax holiday weekend focusing on restaurant sales.
This period runs Friday, Aug. 7 through Sunday, Aug. 9 and is limited to the retail sale of food and drink by restaurants.