Gov. Scott Signs Back-To-School Sales Tax Holiday
TALLAHASSEE (CBS4) -- Gov. Rick Scott has signed a bill that creates a three-day sales tax holiday for back to school shopping.
The sales tax holiday will include clothes and shoes up to $75 and school supplies valued at $15 or less.
The popular sales tax holiday at back-to-school time saves 6 cents on every dollar spent.
While it's a sales tax cut for the careful shopper, retailers say it's actually a big tax collection increase for the state.
The three-day holiday will cost the state $34.7 million in lost revenue while local governments would lose about $7.5 million. However, retailers say the revenue lost by school-related purchase sis offset by increased sales of taxable merchandise.
The three-day sales tax holiday begins at 12:01 a.m. on August 12.
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