Source: Ohio Department of Taxation
Retailers are gearing up for big crowds of back-to-school shoppers this weekend for the state’s tax-free holiday, which last year saved consumers more than $3 million in sales tax.
Under the sales tax holiday that begins Friday, certain items are exempt from sales tax, including clothing priced at $75, school supplies and instruction material priced under $20.
Ohio’s initial sales tax holiday last August boosted sales tax revenues by $4.7 million and saved shoppers $3.3 million on sales tax, according to a study from the University of Cincinnati. Local business officials expect to see that revenue increase again this weekend.
“I would anticipate that we’re going to see that same, if not greater increase, when you compare August 2015 to August 2016 following the sales tax holiday,” said Chris Kershner, vice president of public policy and economic development for the Dayton Area Chamber of Commerce.
The sales tax holiday, which continues through midnight on Sunday, provides much-needed relief to hard-working families who incur extra educational costs every year before their children go back to school, Kershner said.
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