No Tax-Free Weekend This Year |
Written by Josh Zach
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Saturday, 02 August 2014 10:38 |
RALEIGH -- This weekend is traditionally when you hit the stores for that tax-free back-to-school shopping spree for items like clothing, computers and classroom supplies. Andy Ellen, president of the NC Retail Merchants Association, explained why North Carolina is not observing a sales tax holiday this year.
"This is part of a larger tax reform package, House Bill 998, and it was very strongly supported by the Retail Markets Association. But some of those tax reductions that we all enjoyed [were removed], unfortunately the sales tax holiday was one of those items," he said. "So that was a policy decision that was made, but it was part of the overall tax reform that was passed in 2013."
Ellen says his organization will review sales trends to determine if the elimination of the sales tax holiday has an impact on spending, then deliver the findings to the General Assembly during the next legislative session.
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Last Updated on Sunday, 03 August 2014 08:49 |