Oh, wouldn’t it be wonderful if every day were a tax-free day in Tennessee? Well, since it is not, take advantage of the upcoming Tax-free Holiday, which is celebrated annually in the state of Tennessee. The holiday dates this year are Friday, August 7, starting promptly at 12:01 a.m. and the tax-free period continues until the clock strikes 11:59 p.m. on Sunday, August 9.
Before you get started on your shopping spree, here are a few things to note to prevent confusion and disappointment when checking out:
- Exempt purchase items include clothing ($100 or less), school supplies ($100 or less), and computers ($1500 or less). All retailers are required to participate in the holiday with the exception of those who only sell to business purchasers. If a retailer sells to both businesses and individuals, they are also required to participate. Along with that, business purchases do not qualify for exempt purchase status during this holiday…{read more}
- Store coupons reducing the value of an item to less than $100 makes that item eligible for the tax-free status.
- Internet sales delivered to Tennessee also qualify during this holiday period, so if you prefer to stay home and shop, that is an option.
- Taxable services for labor and rental costs are not exempt during this period.
Note: Something to consider. Tennessee charges seven percent (7%) tax on taxable items. Be sure the savings is worth the purchase before spending money that would be better saved.
