For students, the back-to-school season is filled with the anticipation of reuniting with friends and donning the coolest new fashions. For parents, it means back-to-school shopping and the stress that comes with stretching a dollar as far as possible while at the same time ensuring that their children are equipped for success in the classroom.
That is why I was proud to join my legislative colleagues in renewing a three-day Sales Tax Holiday during the first weekend in August to assist families by easing the financial burden as they check off items from this year's shopping list.
Earlier this year, the Ohio General Assembly approved Senate Bill 264 allowing families to take advantage of tax-free savings when purchasing select items beginning Friday, August 5th and running through Sunday, August 7th.
The first-ever tax-free holiday proved to be an overwhelming success, with Ohioans saving millions and retailers benefitting from substantial boosts in retail sales.
Once again this year, all shoes and clothing priced less than $75 will be exempt from state and local sales taxes during this three-day period. School supplies and instructional materials priced at $20 or less will also be tax exempt. Even online vendors will be more affordable, as they will waive local and state sales taxes on designated items during the three-day tax holiday.
Ohio’s Sales Tax Holiday is scheduled to provide optimal savings for parents, families and educators. This temporary relief from the sales taxes is meant to allow families to keep more of their hard-earned money and ensure that students enter the classroom prepared to excel.
Ohioans saved approximately $3.3 million on back-to-school items during the three-day period last year, resulting in a boost in statewide retail sales of more than 6 percent in August 2015. Counties located along state lines fared even better.
I hope that Ohio's Sales Tax Holiday provides at least some peace of mind for parents as they endure the costly back-to-school shopping season. This is a win-win for families, businesses and most importantly, students.
Click here for more information about Ohio's Sales Tax Holiday, including specifics on which items qualify for savings.