It’s Time To Finalize Your ‘Back-to-School’ Shopping Plans
We know that you’re probably not in the “back-to-school shopping” state of mind yet, but Ohio’s Tax Free Holiday Weekend will be here before you know it. This year, the Ohio Department of Taxation has announced, shoppers will be able to purchase school supplies tax free on Friday Aug. 3 through Sunday, Aug. 5.
Just in time for the “Back to School” season, this annual event exempts many items from the sales and use tax. So, if you haven’t made plans to do so already, make sure set aside some time during this special tax-free holiday to stock up on those glue sticks and pencils.
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Not only will shoppers have this year’s sales tax holiday to look forward to, Ohio Gov. John Kasich took steps in March to ensure that this holiday becomes a permanent fixture. Senate Bill 226 went into effect on March 30, and officially established the first weekend in August as Ohio’s annual tax-free holiday. Because this holiday is set by law, every store is required to participate.
The following items will be exempt from the sales and use tax during the upcoming tax free holiday:
- Clothing priced at $75 per item or less;
- School supplies priced at $20 per item or less; and
- School instructional material priced at $20 per item or less.
Since Ohio began allowing for the annual sales tax holiday in 2015, the event has proven to be a popular way to get shoppers out and about while providing a bit of a financial break on necessary items in time for the “back-to-school” season.
Check out this FAQ page to learn more, or call 800-304-3211.
By Lisa Beamer, CPA (New Philadelphia office)