In Florida, three sales tax free periods were established for this 2021. The Florida government will carry out its third program of its kind to revive the state’s economy and help people with their school purchases.
The pandemic has caused that not only companies try to attract consumers with offers, state and local governments have also made an effort to encourage purchase and economic activation in their jurisdiction. In this case, Florida has renewed its tax-free holidays each year to stimulate its economy, not with one, not two, now it’s going for its third “freedom week.”, this time to help families make their school purchases for the next school term.
In an effort of the government of Florida to support the family economy and, at the same time, promote economic activation in the state, announced the new holiday of duty-free shopping that this time will be extended for 10 days from July 31 to August 9, with considerable reductions in a variety of products necessary to prepare for the new school year. Buyers will save Florida’s 6% state sales tax, as well as any applicable local taxes.
This program has great relevance especially for the number of offers and the number of days in which they will be available. In general, the state of Florida offers a three-day tax weekend before the return to school with the same objective, to help families do their school shopping without so much tax burden. For this 2021, consumers have 10 days to make these purchases for their student children from 12:01 a.m. on July 31 until 11:59 p.m. on August 9.
The tax exemption only applies to items that the state believes children will need to go to school. As a general rule, the following items are included, although there are some exceptions that can be found on the Florida Department of Revenue website:
• Clothing and apparel up to a maximum value of $60 per item.
• School supplies up to a maximum value of $15 per item.
• Personal computers and related accessories, although only the first $1,000 is eligible for tax exemption.
Value limits only relate to each individual item, so you can claim multiple kids’ jackets worth $50 as tax-free.
This program comes at a time that is reinforced by consumer confidence that exists in Florida, where it grew 1.5 points in June. This has also been seen at the national level, where despite inflation and high prices on different products and services, and that consumers seem not to be comfortable with it, they continue to buy at high levels.
Florida is not the only state that has run these tax-free programs. Texas has also held its third tax-free day for school shopping, both in support of the family economy and the impulse to companies in the sector for the reactivation of their businesses, so beneficial after the damages of the pandemic.