COLUMBUS – It is one of the seasons of the year for retailers, second only to the holidays: back-to school.
The National Retail Federation estimates Americans will spend a total $86.3 billion on school supplies and clothes this year and Ohioans are being offered a couple of different ways to save money.
The state’s third sales tax holiday is scheduled for this weekend, beginning Friday and running through Sunday, when all shoes and clothing priced less than $75 and all supplies and instructional materials priced at $20 or less will be exempt from state and local sales and use taxes.
Ohio Sales Tax Holiday: 12:00 a.m. Friday, August 4, until 11:59 p.m. Sunday, August 6
Although some groups are critical of the sales tax moratorium, saying it deprives the state of much-needed revenue without significantly boosting retail sales, Ohio Tax Commissioner Joe Testa says overall there has been positive feedback.
“It creates some excitement,” he said. “It does give people an opportunity to get a tax break on those items purchased under those conditions on those weekends so that’s seen as a positive. The retailers back that up each time that we’ve done that and of course many other state do it as well.”
There is no limit on the amount of purchases and the qualification is determined item by item.
The retail group predicts a family will spend an average of $687.22 per elementary school-through-high school student and $969.88 per college student.
This is the third year in a row that Ohio has held a back-to-school tax holiday, and the recently signed state budget authorizes another for 2018.
Retailers in Ohio, Alabama, Arkansas, Iowa, Oklahoma, South Carolina, Tennessee, Texas and Virginia are required to participate in their states’ tax holidays. In New Mexico,
The families of military service members and veterans can get some help defraying their back-to-school costs through the Military Veterans Resource Center’s “Operation: Tools for School” program.
Operation: Tools for School, MVRC Columbus Resource Center, 1395 E. Dublin-Granville Road, Suite 350. For more information, call 614-230-0662. Donations to Operation: Tools for School can be made by visiting the MVRC website
During the month of August, veterans, service members, guard and reserve members, and their spouses can receive assistance when they provide proof of service and birth certificates or proof of custody for each child.