Thursday, August 2, 2012

TAX FREE WEEKEND STARTS FRIDAY!

That's tomorrow!  Don't miss out on needed items for school.

G.S. 105-164.13C provides an exemption for certain items of tangible personal property sold between 12:01 A.M. on the first Friday in August and 11:59 P.M. the following Sunday.  Here's a simple guide:

  • Clothing, footwear, and school supplies of $100 or less per item 
  • school instructional materials of $300 or less per item 
  • sports and recreation equipment of $50 or less per item
  • computers of $3,500 or less per item 
  • and computer supplies of $250 or less per item will be exempt

Not covered:

  • Clothing accessories 
  • jewelry 
  • cosmetics 
  • protective equipment 
  • wallets (does anyone see irony here?) 
  • furniture
  • items used in a trade or business
  • rentals
The following resources provide additional information about the sales tax holiday:
Source:  NC Department Revenue website.

Who thinks they should include home purchases next year?  I do!

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