by Lucinda Rowlands July 25, 2013
For the past 11 years, North Carolina held a three-day tax holiday every year for back to school purchases. This gave North Carolina residents a chance to stock up on school supplies, books, and laptops while also giving stores a sales boost.
The North Carolina Senate is considering a bill that would end this holiday starting in 2014. The Senate finds that the holiday is costing the state too much in revenue and doesn’t provide enough of a sales boost; residents would need to buy many back-to-school items anyway.
Merchants argue that ending the holiday would encourage residents to shop online or go out of state as four neighboring states also hold sales tax holidays. For now, this change is still under debate as the North Carolina House’s version of the sales tax bill keeps the holiday intact.
Read more at the Triangle Business JournalCharles F.
Comments will be approved before showing up.
Our blog is a treasure trove of information, featuring detailed articles on rate changes, legislative updates, and practical guidance to keep your business ahead in tax compliance.
Subscribe now to receive crucial updates on sales tax rates, tax compliance insights, and the latest developments in tax legislation affecting businesses in the U.S. and Canada.