SIOUX CITY (KTIV) -- Friday marks the start of Iowa's annual Sales Tax Holiday. Siouxlander's took to the stores to take advantage of not having to pay the usual six percent sales tax.
The holiday kicked off Friday at 12:01 am and goes until Midnight on Saturday.
While many refer to the holiday as "tax-free weekend", the holiday does not include Sunday.
According to the Iowa Department of Revenue, the tax exemption applies to clothing and footwear only. Things like blouses, shirts, and ties are all included in the tax exemption.
That list of what is and isn't eligible for the tax exemption can be confusing, so KTIV pulled a full list of items that are eligible for the tax-free holiday. We also have a list of items that will still be taxed during the two days. You can check those lists out by clicking here.
Iowa's annual sales tax holiday is one of the biggest shopping events of the year, especially with back to school quickly approaching. However one local Siouxland business is worried the pandemic might have an effect on their turnout for the two days.
"We are very concerned," said Andrea Johnson with Envy My Closet.
Similar to many other local businesses around Siouxland, Envy My Closet in Sioux City typically sees a big jump in customers for the sales tax-free holiday.
With the pandemic, representatives with the store say this year is all an unknown.
"We are worried that tax free will be a lot less than usual. We are encouraging people to still come in. We do our best to try and keep the store as clean as possible," said Johnson.
Johnson says throughout these uncertain times, they're trying to remain optimistic.
"This year has been totally different, obviously. And we're just hoping that that doesn't mean they're not going to shop. That maybe they're just going to shop at a later date," said Johnson.
She adds she never thought they'd see a time where the sales tax-free holiday wasn't one of their bigger shopping days.
"It is a little shocking to us that people wouldn't be taking advantage of the tax free, however we do understand," said Johnson.
Johnson adds while they don't know what to expect, they're still doubling up on staff for the weekend to be prepared.
According to the Iowa Department of Revenue, in 2019, Iowans saved about 4.6 million by not having to pay that six percent sales tax.
And what about Nebraska, South Dakota, and Minnesota? Nebraska and South Dakota don't have a sales tax holiday. In Minnesota, clothing is exempt from sales tax year-round.
The Link LonkAugust 08, 2020 at 05:54AM
https://ift.tt/3gG8tV9
Iowa Sales Tax Holiday: What you need to know to save - KTIV
https://ift.tt/2QoXNjh
Holiday
No comments:
Post a Comment