Legislation for Consumers: Ohio’s Sales Tax Free Weekend to Aid Back-to-School Shopping

7651703666_b36702cfcc_mSenate Bill 243 enacted a one-time sales tax free weekend to assist Ohio families with their back-to-school shopping. The three-day tax holiday is intended to boost the State economy while giving Ohio taxpayers a break during a traditionally high consumer spending month. During the tax holiday, clothing priced under $75, school supplies under $20, and instructional materials under $20 will all be exempt from Ohio’s average 7% sales tax.

There is no item limit on the tax exemption as long as each item is under the price threshold. Therefore, a consumer can purchase three pairs of jeans for $50 each and the tax exemption will apply to the entire $150 purchase. The exemption also applies to sale items if the coupon or discount brings the sale price below the cap.

While the Bill is focused on assisting families during their back-to-school shopping, the tax free holiday will benefit a wide variety of Ohio consumers. It is anticipated that the sales tax holiday will save Ohio families over $75 million. For more details, click here.

 

Image Credit and License