Pine Belt gearing up for sales tax holiday - KAIT Jonesboro, AR - Region 8 News, weather, sports

Pine Belt gearing up for sales tax holiday

HATTIESBURG, MS (WDAM) -

The annual Sales Tax Holiday begins 12:01 a.m. Friday, July 25, 2014, and ends 12:00 midnight Saturday, July 26, 2014. 

The items exempt from sales tax during the Sales Tax Holiday are identical to those items exempt in prior years. Clothing and footwear items, meant to be worn next to the body and cost less than $100 per item, are exempt from sales tax during this period. Accessories such as jewelry, handbags, wallets, watches, backpacks, and similar items do not qualify for the Sales Tax Holiday.

Cleats and items worn in conjunction with an athletic or recreational activity are other sample items not eligible. School supplies and computers are not included. The following municipalities are suspending the Sales Tax Holiday within their corporate limits and will not participate this year: Crenshaw, Enterprise, and Heidelberg. All retail businesses within the corporate limits of the municipality not participating must charge and remit to the state sales tax on all sales that would normally be exempt under the Sales Tax Holiday.  

Definitions "Clothing" is any article of apparel designed to be worn on the human body including pants, shirts and blouses, dresses, coats, jackets, belts, hats, undergarments, and multiple piece garments sold as a set. "Footwear" is any article of apparel for human feet except for skis, swim fins, roller blades, skates, and any similar items.

"Accessories" as jewelry, handbags, luggage, umbrellas, wallets, watches, backpacks, briefcases, and similar items do not qualify for the Sales Tax Holiday. Eligible and Non-Eligible Items. The Sales Tax Holiday will apply statewide to all consumer purchases of clothing and footwear with sales prices of less than $100.00 per article during the Sales Tax holiday.

The tax holiday does not apply to sales of any other items not defined as clothing or footwear. A list of eligible items is provided in this guide. Guidelines $100 Threshold. The Sales Tax Holiday applies to each eligible item selling for less than $100.00, regardless of how many items are sold at the same time. Items priced at $100.00 or more are subject to Sales Tax at the regular retail rate of 7%.

For example, a customer purchases two (2) shirts at $50.00 each, a pair of slacks at $75.00, and a pair of shoes at $110.00. No Sales Tax is due on the sale of the two shirts and the pair of slacks at a cost of $175.00, even though the combined cost exceeds the one hundred dollar ($100) threshold. However, Sales Tax is due on the entire $110.00 for the shoes since they exceed the one hundred dollar ($100) threshold.  Rentals of Items. Rentals of clothing and footwear do not qualify for the Sales Tax Holiday and are subject to 7% Sales Tax. Items Sold as a Unit.

Articles that are normally sold together, such as a pair of shoes or a uniform, must continue to be sold as a set or a single unit. Components of the unit cannot be priced separately and sold as individual items in order to qualify for the holiday. However, if components of a unit are normally priced as separate items, then they may continue to be sold as separate items and qualify if the price of the article is less than $100.00. Parings of Eligible and Non-Eligible Items.

When eligible items are normally sold with non-eligible items as a set or a single unit, the full price is subject to Sales Tax if the value of the non-eligible (taxable) item exceeds the eligible ones.

Several restrictions are outlined by the Department of Revenue including a $100 threshold for each item. The Sales Tax Holiday applies to each eligible item selling for less that $100.00, regardless of how many items are sold at the same time.

An official guide for the Sales Tax Holiday can be found at http://www.tax.ms.gov/docs/2014SalesTaxHoliday_000.pdf .

For additional questions regarding the Sales Tax Holiday, please contact the State of Mississippi Department of Revenue at 601.923.7015.

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