SOUTH FLORIDA - Tax-Free Holiday began at 12:01 a.m. Friday and for the first time, electronics are being added to the list of tax exempt items.
Florida law directs that no sales tax or local option tax (also known as discretionary sales surtax) will be collected on sales of clothing, footwear, and certain accessories selling for $75 or less per item, on certain school supplies selling for $15 or less per item, and on personal computers and certain related accessories selling for $750 or less per item, when purchased for noncommercial home or personal use.
This three-day tax holiday is in effect from 12:01 a.m. on Friday, August 2, 2013, through 11:59 p.m. on Sunday, August 4, 2013.
At stores like Old Navy, Florida's tax free holiday weekend is "huge," according to Old Navy Market Leader Teresa Thompson.
"Friday, Saturday and Sunday are going to be massive," Thompson told Local 10's Todd Tongen. "Saturday is a million dollar day for us."
"And you expect to beat that?" Tongen asked.
"Yes, by at least thirty percent," Thompson replied.
Before heading to the stores, you should research which items are tax exempt and the restrictions that apply, said Carol Kokinis-Graves, senior state tax analyst at CCH, a global provider of accounting and audit information.
And the sales tax holiday isn't limited to brick-and-mortar stores. Apple, for example, is touting the fact that Floridians can go online to purchase some its products tax-free.
The tax-free holiday does not apply to cellphones or smartphones, but it does apply to keyboards, monitors and routers.
Click here to download more information on what items are tax exempt during the tax-free holiday.
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