Back to school tax sale starts Friday
It’s that time of year again.
Friday begins the annual Iowa Sales Tax Holiday.
The event kicks off at 12:01 Friday morning and lasts until midnight Saturday.
Jefferson County residents won’t have to go far for savings.
Walmart, Brown’s Shoe Fit and Overland Sheep Company say they’re gearing up for the rush.
My Lucky Day owners, Tom and Molly Ridgley said they’re ready for the event as well. They encourage shoppers to drop by since items in their store are always tax-free.
The Bargain Box is always tax-free as well.
“Now is the best time to buy shoes because they’re tax free,” said Benjamin Wagler, managing owner of Brown’s Shoe Fit. “Sometimes, thinking so much about school supplies, people forget that their children need shoes, too.”
According to the Iowa Department of Revenue site, any business that sells clothing or footwear that is open during tax holiday hours is required to participate.
But there are some stipulations as to what items qualify for the break.
All individual clothing and shoes valued at less than $100 will be tax-free. However, individual items that are valued at $100 or greater are ineligible for exemption.
The holiday is for the purchase of clothing and footwear only.
IDR also specifies what “clothing” means: any article of wearing apparel or typical footwear intended to be worn on or about the human body.
For the purposes of this sale, clothing does not include watches, jewelry, umbrellas, backpacks or footwear designed for sporting activities.
However, running shoes without cleats are exempt, as well as belts, scarves and socks. A complete listing of what’s included is on the department’s website.
Stores preparing to participate in the sale should be aware of the department’s guidelines as well.
According to IDR’s website, retailers cannot advertise that they will pay or otherwise absorb the sales tax on items that don’t qualify. Also, when exempt and taxable items are normally sold together, the full price is subject to sales tax if the value of the taxable items exceeds that of the exempt ones.
For more information, visit www.Iowa.gov/tax.