(Undated)– Another reminder that Iowa’s Sales Tax-Free Weekend is this Friday through Saturday. Iowa State University Extension health and human sciences educator Carol Ehlers says households can expand their students’ wardrobes without paying state or local sales tax…
“There won’t be a collection of state sales tax or any local option sales tax on two major things that we would purchase for our children going back to school. The tax exemption applies to clothing under $100 and shoes under $100. It gives the shopper a discount of between 6 to 7 percent depending on the community for those purchases that weekend.”
Ehlers says several items are NOT included in the holiday…
“An example is jewelry, umbrellas, some sports equipment sometimes that young people are thinking that they want in the fall, maybe. So there’s a list of things that don’t apply to this particular August 7th through the 8th sales tax holiday.”
School supplies are also not sales tax exempt during the weekend. She says you can find more information online…
“You’d want to visit the Iowa Department of Revenue’s website, and it’s annual sales tax holiday. It’s really easy to find just with a google search. A great explanation on their web page as well as a document that gives you everything that’s acceptable and a list of exemptions, things that you can’t purchase and still get that no sales tax application.”
Ehlers recommends having a plan in place before heading to the stores — taking inventory of what your child already has, what they need for the school year, and setting a budget and sticking to it…
“And then if there’s a difference between what you have available to spend on each child and what we’ve identified as a need, ask them what could we do that might be different? Is there some money that you might want to match so that you can have whatever it is that you’re wanting on your list. Having these great many conversations, that’s how we build financial literacy and a deeper understanding about money, needs versus want.”
And, while some people call it “tax-free weekend,” it is not the whole weekend. The annual sales tax holiday kicks off at 12:01 a.m. Friday and runs through midnight Saturday — and will NOT be in effect on Sunday.
(Courtesy Community First Broadcasting station KSOU in Sioux Center).
