Shoppers in Iowa will get a break from sales and local option taxes on some items this coming weekend. Roger Stirler with the Iowa Department of Revenue says the 11th annual Iowa Sales Tax Holiday covers most clothing and footwear with a selling price under $100.
“It is directed at providing a break to parents as they get their kids ready to go back to school,” Stirler said. Businesses that sell qualifying item are required to participate. Items that are exempt from taxes include shirts, pants, hats, socks and shoes. Items that remain taxable include computers, backpacks and jewelry. The sales tax holiday will be held Friday and Saturday.
The event is expected to save consumers nearly $2 million in taxes and provide a boost to retailers. Stirler says many retailers report the first weekend in August is nearly as busy as “Black Friday” – the day after Thanksgiving.
You can find out what items are tax exempt here:www.iowa.gov/tax/educate/holiday1.html