Tax holiday rings in school year shopping
Louisiana's annual state sales tax holiday is set for Friday and Saturday, a prime time for parents in need of school supplies. The holiday exempts from the 4% state sales tax the first $2,500 of the purchase price of each eligible item. Education-related expenses such as school supplies, uniforms and required equipment are eligible for state tax deductions for dependent students.
Tommia Burtz, human resource manager at Target on Siegen Lane, says she is confident the tax holiday will lead to brisk back-to-school sales. "The timing is perfect," Burtz says. "We anticipate to go over forecast on Friday and Saturday." She says that Target has already seen "a pretty steady supply of traffic" for school supplies. The most popular items, she says, "vary per class per school. One of our most popular items for children is the KinderMat. For back to college, it's different. Refrigerators, microwaves, bedroom items and storage bins are really big."
Barbara Jans, marketing manager at Mall of Louisiana, says teen apparel retailers such as American Eagle, Hollister and Forever 21 will see particular benefit from the tax holiday. "Even with uniforms, kids still need to buy clothes for after school. It will help out parents who have multiple kids, especially," Jans says.
The tax exemption does not apply to vehicles, restaurants, and taxable services such as hotel stays or admission to recreational facilities. More information is available at revenue.louisiana.gov. —Ian McGibboney
Today's poll question: How much of your back-to-school shopping have you done?
comments powered by Disqus
Why don't we talk about race?
Garage to globe
Social media lessons from Mike the Tiger
UCLA: Interest rates to rise in March
U.S. budget deficit narrows in August
Icahn, Soros, Druckenmiller, And Now Zell: The Billionaires Are All Quietly Preparing For The Plunge
EPA looking at new mandates on methane