Retailers Say Tax Holiday Helps State, Too
Wednesday, June 1, 2011
By: Nicole Creston

June 01, 2011 | WMFE - Florida merchants say a back-to-school sales tax "holiday" signed into law by Governor Rick Scott will boost the state's treasury as well as their businesses.

In addition to bringing more money into many stores, Florida Retail Federation officials say they also expect state revenues to increase based on a study of a similar three-day tax holiday last year. Governor Scott signed the legislation into law Tuesday.

From August 12th through 14th, no sales tax will be charged for clothing items priced up to $75 and school supplies up to $15. That's expected to reduce state tax revenues by $25.6 million dollars.  

However, the study showed the state collected an extra $7 million in tax revenue over those three days. That’s because consumers attracted to stores by the tax break also spent more on taxable items.