By Andrea Gantz-Holly, Tax Senior Associate
The Virginia sales tax holiday weekend is one of the first signs that summer is drawing to an end. This can evoke happy or sad feelings and very possibly a combination of both.
From a purchasing standpoint, it is a great time to purchase needed items and a minimum discount of 5.3% or higher (in Northern Virginia and Hampton Roads areas). Since it involves much more than back to school supplies, please don’t miss this opportunity if it has been on your “to do” list.
The eligible items are as follows:
School supplies, clothing, and footwear
◦Qualified school supplies – $20 or less per item
This includes many cleaning items, art supplies, and musical instruments/accessories.
◦Qualified clothing and footwear – $100 or less per item
This does not include sporting equipment or specialized footwear used in sports.
Hurricane and emergency preparedness products
◦Portable generators – $1,000 or less per item
◦Gas-powered chainsaws – $350 or less per item
◦Chainsaw accessories – $60 or less per item
◦Other specified hurricane preparedness items – $60 or less per item
This includes batteries, portable lighting and radios, smoke/fire/carbon dioxide detectors, and many other items for the home and the outdoors.
Energy Star™ and WaterSense™products
◦Qualifying Energy Star™ or WaterSense™ products purchased for noncommercial home or personal use – $2,500 or less per item
Many of these items have the Energy Star or WaterSense labels affixed to them. Consult your contractor and/or retailer to verify that your item(s) qualify.
A complete list of qualifying items can be found on the Virginia Department of Taxation website
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.