Wednesday, July 23, 2008

The 2008 Tax Free Holiday is August 1-3

Whether you’re selling or shopping, this is info you need. Certain items of tangible personal property sold between first Friday in August and the following Sunday are tax exempt. For 2008, the dates are Friday, August 1st through Sunday, August 3rd. Clothing, footwear, and school supplies of $100 or less per item; school instructional materials of $300 or less per item; sports and recreation equipment of $50 or less per item, computers of $3,500 or less per item; and computer supplies of $250 or less per item will be exempt.
Clothing accessories, jewelry, cosmetics, protective equipment, wallets, furniture, items used in a trade or business, and rentals are not covered by the exemption and will be subject to the applicable tax.
For a complete list of items included and answers to frequently asked questions , visit the Department of Revenue online site and click on the links. www.dor.state.nc.us/taxes/sales/salestax_holiday.html or call them at 1-877-252-3052

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