By Terry Barrett, Senior Tax Manager | State and Local Tax Team
The weekend of August 5-7th will provide Virginia shoppers with an opportunity to save on sales tax on certain types of purchases. The savings can be found on the following:
- Back to School items, including school supplies ($20 or less per item, clothing and footwear ($100 or less per item);
- Hurricane Emergency Preparedness items, including portable generators priced at $1,000 or less, batteries, bottled water, etc.; and
- Certain types of energy efficient products, including qualifying Energy Star™ and Water Sense™ Items (e.g., dishwashers, clothes washers, light bulbs, shower heads, etc.).
Retailers of the above products will not be collecting the tax on qualifying sales.
In addition, other retailers may choose to participate in the holiday by paying the sales tax on any taxable items themselves and passing the savings on to their customers. The savings extend to qualifying items purchased online, by mail order, or over the phone.
For more information see the Virginia’s Department of Taxation’s website at http://www.tax.virginia.gov/salestaxholiday.
The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.