Mississippi and Tennessee Sales Tax Holiday, July 2017
Both Mississippi and Tennessee hold sales tax holidays this weekend on select items.
A sales tax holiday is a temporary period when sales taxes are not collected or paid on purchases of specific products or services.
There are two states, Mississippi and Tennessee, that hold sales tax holidays this weekend.
Mississippi’s sales tax holiday is a 2-day holiday running from Friday, July 28 to Saturday, July 29, 2017. Sales tax is not due on the sale of articles of clothing or footwear if the price of each item is less than $100. Accessories do not qualify for the sales tax holiday. Learn more about the tax exempt items via Mississippi Department of Revenue’s Official Guide to the Sales Tax Holiday.
Tennessee’s sales tax holiday is a 3-day holiday running from Friday, July 28 to Sunday July 30, 2017. Similar to Mississippi’s tax holiday, Tennessee’s apparel costing $100 or less per item is tax exempt. Also, school supplies and school art supplies costing $100 or less per item is tax exempt. Additionally, computers (including laptops and tablets) costing $1,500 or less per item are exempt from sales tax. If you are unsure what is taxable or exempt, the Tennessee Department of Revenue has provided a list of exempt items and taxable items.
As you can see, sales tax compliance can be tricky for retailers selling these tax exempt items during temporary periods of time. Tax holidays are just an example why automation is key in making sure your business is compliant. Turn to Vertex for your sales tax automation needs with our solution, Vertex Cloud.
Vertex Cloud is a cloud-based sales and use tax automation solution that is designed to save time, effort, and risk associated with calculation, return, remittance, and compliance for businesses of all sizes. Learn more about our features.
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