As preparations for the upcoming school year begin, Tennessee legislators hope to relieve some of the economic stress placed on students and parents.
Tennessee’s Annual Sales Tax Holiday is held the first Friday of August every year and ends the following Sunday night. This year’s tax-free holiday weekend begins at 12:01 a.m. Aug. 3 and ends Aug. 5 at 11:59 p.m.
“The tax law itself calls for a holiday to provide tax savings to Tennesseans,” said Billy Trout, Communications Manager for Tennessee’s Department of Revenue. “Last year Tennesseans saved about $9.6 million because of the tax break.”
Currently, the tax break is designed to mostly benefit students by eliminating the sales tax on items such as school supplies, clothing and computers during the designated weekend, but Tennesseans who are not students may still take advantage of avoiding the 9.25 percent sales tax rate.... read the rest of the story by Subscribing now.