A portion of the massive Mall of America.
Florida residents would get deeper price cuts in their purchases on selected school-related products beginning Friday, August 7.
Shoppers have the state's Legislature to thank for bringing back the 10-day tax holiday which used to be just for three days. It is the first time since 2007 that the tax holiday would happen again in Florida.
Retailers are actually offering a lot of back-to-school sales. Combined with the 6 to 7 percent discount after the sales tax is removed, it would represent savings to parents and families buying school items. The tax holiday applies to most shoes and clothes with price tags below $100 and other products too such as diapers and school bags, reports Orlando Sentinel.
For other school supplies, the cap is $15 to enjoy the tax holiday, while for computers and peripherals, it is $750.
Florida's Department of Economic and Demographic Research estimates the tax holiday would cut $59.9 million from the state and local budgets. Retailers in the state pushed for the extension of the tax holiday to 10 days to soften the mad rush of shoppers if it is limited to just one weekend.
Tim O'Brien, general manager of J.C. Penney at Florida Mall, said the longer period is a big win for stores because it spreads the sales out.
Among the best-selling items are casual-wear leggings and sweats that kids love to wear to school and "Star Wars" merchandise in anticipation of the movie's release in December.
Other tax-exempt items include uniforms, calculators, lunch boxes and bathing suits. But excluded are luggage, furniture, umbrellas, smartphones, printer paper and computers if not for home or personal use. It also does not apply to items sold in theme parks, entertainment complexes, public lodging establishments or airports, reports Centralfloridafuture.
