Shoppers and stores across Florida are getting ready for the back-to-school sales tax holiday which starts on Friday and runs until Aug. 16. Back in June, the Legislature voted to extend the back-to-school tax holiday to 10 days, a large increase from the usual three-day period. Starting on Friday, there will be no sales tax on clothes, shoes and bags $100 and less, school supplies up to $15 and the first $750 of personal computers.
Rick McAllister, the president and CEO of the Florida Retail Federation (FRF), insisted on Monday that retailers will benefit from the holiday.
“We are excited about the extended sales tax holiday that families and shoppers of all ages will be able to take advantage of,” McAllister said. “Florida’s more than 270,000 retailers have been preparing for this popular holiday and are ready with great sales and opportunities for shoppers to save on clothing, supplies and technology items.”
McAllister pointed to a study from the National Retail Federations’ Retail Insight Center Monthly Consumer Survey which shows 29 percent of families plan to spend more on back-to-school shopping than last year, up from 24 percent in last year’s survey.
Families with college students are also planning to spend more. The study shows almost 30 percent of college students and their families plan to spend more this year on school shopping, up from 23 percent in 2015, with many of them planning to go online to price shop.
“The positive uptick in planned spending means that retailers’ back-to-school season could bring a welcome boost in sales,” the FRF noted on Monday. “Regardless of their spending plans this summer, the economy is still top of mind for some families, especially when it comes to making sure their children have what they need for the school year.”
Other members of the business community joined the FRF in pushing the extended sales-tax holiday, including the Associated Industries of Florida (AIF) and the Florida Chamber of Commerce which made it one of its top tax-cut priorities this year.
Reach Kevin Derby at kderby@sunshinestatenews.com or follow him on Twitter: @KevinDerbySSN
