If you're among the thousands of Virginia parents preparing to send their children back to school, it's time to start getting your shopping list together. The Commonwealth's seventh annual back-to-school Sales Tax Holiday returns in August, just in time to help Virginians save some money.
During this three-day event, which begins Friday, Aug. 3, and runs through Sunday, Aug. 5, most school supplies costing $20 or less each and clothing items and footwear priced at $100 or less each will be exempt from Virginia's 5 percent state and local sales tax. The list of tax-exempt items is the same as last year and includes such products as pens, pencils, loose leaf ruled notebook paper, scissors, binders, backpacks, construction paper, sneakers, dresses, jeans and T-shirts.
"What better way to beat the summer heat than to go out and shop and support Virginia businesses," said Governor Bob McDonnell. "Of the Commonwealth's three sales tax holidays, this is the most popular because it helps parents around the state save money while purchasing essential school supplies, clothing and shoes to help their children have a successful year at school. But it's also important to remember that you don't have to be going back to school to take advantage of these savings. Who doesn't want to save money on office supplies and summer clothes?"
An all-inclusive list of school supplies, a list of exempt clothing and footwear items, holiday guidelines for shoppers and retailers, and answers to frequently asked questions are available on the Department's Sales Tax Holiday Information Center at http://www.tax.virginia.gov/.
As long as each item purchased qualifies for the exemption, there is no limit on the number of items you can buy. During this sales tax holiday, retailers may also choose to save taxpayers even more by absorbing the sales tax, or paying it themselves, on items that are not eligible for exemption. The retailers must then pay the sales tax themselves on such sales.