This year, the sales tax exemption for personal computers and certain computer-related accessories will be on the first $750 of the sales price. In addition, the sales tax exemption for clothing items has been increased to $100 or less per item (up from $75 or less per item in 2013). Retailers say that expands the list of tax-exempt items, and they expect an average increase of at least 30 percent in store traffic over the weekend because of the sales tax holiday.
During the upcoming tax holiday weekend, there will be no state or local sales taxes due on the first $750 of the sales price of personal computers and related accessories purchased for noncommercial home or personal use. The "personal computer" exemption includes any electronic book reader, laptop, desktop, handheld, tablet or tower computer, but does not include cellphones, video game consoles, digital media receivers, or devices that are not primarily designed to process data.
The "related accessories" includes keyboards, mice, personal digital assistants, monitors (except those with TV tuners), modems, routers and non-recreational software.
Clothing and shoes up to $100 will be tax exempt, along with school supplies up to $15. That includes pens, pencils, erasers, crayons, notebooks, notebook paper, legal pads, binders, lunch boxes, construction paper, markers, folders, poster board, composition books, poster paper, scissors, cellophane tape, glue or paste, rulers, computer disks, protractors, compasses and calculators.
In all, Florida residents are expected to save at least $40 million over the three-day holiday, which was passed by the 2014 Florida Legislature and signed into law by Gov. Rick Scott. Tax-exempt sales will account for an estimated $600 million of $5 billion in purchases.
© 2014 Florida Realtors®
Reprinted with permission. Florida Realtors®. All rights reserved.