February 20, 2004 at 9:43 PM CST - Updated June 26 at 8:35 AM
February 20, 2004--Posted at 5:00 p.m.
JONESBORO, AR--If you've been pondering the purchase of that big ticket item, thanks to the legislature, the time to buy is now.
The sales tax increase for Arkansas goods and services goes into effect March 1st.
While the 7/8 cent rise might not seem like much, when it comes to high dollar items, buying now could save you big bucks.
Jerry and Teresa Dale bought a new bistro set at Rowsey Furniture in Jonesboro, and by purchasing now, the Dales dissed next months sales tax increase.
"Oh yea, it's great for me, I like my pocketbook to be full," said Jerry Dale. Teresa Dale said, "it makes us feel good, saving money. You always want to save money in these high inflation times anyway."
Store owner Larry Rowsey said it might not seem like a lot, but for most folks, saving any money, no matter how small, is a real incentive to buy now. "I
t's very much an incentive. You know, we're taxed to death anyway and to be able to save some additional money is great, so I think you need to take advantage of it," said Rowsey.
Central Toyota sales manager, Bobby Burns said, "It's driven a few people in. No question they are aware of it. Three or four hundred dollars is a lot of money to a lot of folks. If you want your best deal, now is the time between now and march first."
Here's an example of the savings. On a 25-thousand dollar vehicle, at the current tax rate you'd pay $1,281.25. On March 1 and later, the tax would be $1,500.00, a savings of about 220 bucks..
Of course, when buying a car or boat, you have 30 days to pay the sales tax, and as long as you buy it before March 1, you'll be taxed at the old rate even if you pay the taxes in March.