|Ready, Set...SHOP--Tax Free Weekend|
|Written by Steve Frank|
|Thursday, 05 August 2010 06:16|
12:01am tomorrow—ready to shop? That’s when the tax-free weekend kicks-off for many items at North Carolina retail outlets—just in time for back-to-school. The reprieve from taxes is great for beleaguered budgets, but it can be a struggle for companies who have automatic systems for tax collection, especially in that there are a number of limits on the tax holiday—so check your list for eligible items and be sure your tally is right.
Sales taxes are off for school supplies, school instructional equipment, computers and related supplies, and sports and recreation equipment—and clothing, and retailers will be pulling out the stops to lure shoppers into their stores. With some strategic planning, consumers can maximize their savings by combining sales, promotions and the absence of taxes to buy more for less. Tax free weekend is August 6th through 8th, and a list of what is tax free and any limits is at: http://www.dornc.com/taxes/sales/salestax_holiday.html
WHAT'S TAX-FREE THIS WEEKEND?
The 10th annual North Carolina sales tax holiday begins at 12:01 a.m. Friday and ends at 11:59 p.m. Aug. 8. Items exempt from state taxes during that time include (but are not limited to):
• Clothing and footwear costing $100 or less per item. Examples: Aprons, athletic supporters, baby receiving blankets, bathing suits, boots, coats, costumes (but not masks sold separately), diapers, formal wear (not rentals), neckties, shoes, socks, underwear, uniforms, wedding apparel.
• Sports or recreational equipment costing $50 or less per item. Examples: Ballet shoes, cleats, elbow guards, gloves for sports, goggles, helmets, life preservers, roller skates, ski boots, waders and wetsuits.
• Computers costing $3,500 or less per item. Example: Computers sold as a package, for example, with monitor, keyboard and speakers are tax free, but the monitor, keyboard or speakers bought separately are subject to tax.
• Computer supplies costing $250 or less per item. Examples: Disks, hard drives, printers, printer ink and supplies, hand-held computing devices that are not also telephones — so an iPod Touch would be tax-free, but an iPhone would not be.
• School supplies costing $100 or less per item. Examples: Art supplies (with some exceptions), binders, book bags, calculators, cellophane tape, crayons, folders, glue, lunch boxes, markers, notebooks, paper, pencils, pens, scissors.
• School instructional materials costing $300 or less per item. Examples: Reference books, maps and globes; textbooks; workbooks
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