The Second Amendment Sales Tax Holiday in Mississippi is this weekend, Aug. 28-30.
During this time, sales tax is not collected on the sale of firearms, ammunition or certain hunting supplies. The Mississippi legislature created the tax free holiday in 2014.
Hunting supplies are defined as the following items when used for hunting:
● Archery equipment
● Firearm and archery cases
● Firearm and archery accessories
● Hearing protection
● Holsters, belts, and slings
The sale of general hunting supplies are not exempt. Hunting supplies does not include animals used for hunting.
Layaway sales of eligible items do not qualify for the holiday.
Sales of eligible items that were placed or ordered by mail, telephone, or the internet are not subject to Sales Tax if the purchaser orders and pays for the items during the holiday and the items are accepted by the seller for immediate shipment. Eligibility will be lost if the purchaser requests or causes delayed shipment of the item.
If an eligible item was purchased during the MSAW holiday and returned after the holiday for credit on the purchase of a different item, Sales Tax is applied to the sale of the newly purchased item.
For example, a customer purchases a $300 firearm during the MSAW holiday. After the holiday, the customer returns the firearm, receives a credit for the firearm, and then buys a $300 archery bow. Sales Tax is due on the $300 price of the bow since the bow was not purchased during the holiday. If an eligible item was purchased during the MSAW holiday and later exchanged for the same item but it’s a different size, different color, etc., then sales tax is not to be charged even if the exchange is made after the holiday. For example, a customer purchases a $100 holster during the holiday and returns the holster in exchange for another size of same style of holster after the holiday, sales tax is not due on the exchanged holster
The Link LonkAugust 28, 2020 at 07:02PM
https://ift.tt/2YGaGJg
Mississippi holds Second Amendment tax holiday this weekend - The Oxford Eagle - Oxford Eagle
https://ift.tt/2QoXNjh
Holiday
No comments:
Post a Comment