Back-to-school shopping can present a financial burden for parents and families at a time when stretching a dollar a little further can make all the difference. Once again this year, Ohio’s Sales Tax Holiday will help to ease this burden for parents as they invest in their children by preparing them to return to the classroom this August.
Most holidays drain our bank accounts, yet this uniquely timed holiday allows Ohioans to keep more of their hard-earned money while equipping students with the tools they need to succeed.
In 2013, I first joined my colleagues to support this legislation introduced by State Senator Kevin Bacon (R-Columbus) to help families save money on back-to-school expenses. During the first-ever Ohio Sales Tax Holiday last summer, Ohioans saved approximately $3.3 million on back-to-school items and retail sales grew by more than 6 percent. I was proud to support the effort again this year as the the event has proven to be a win-win for Ohio families, businesses and most importantly, students.
All shoes and clothing priced less than $75 will be exempt from state and local sales and use taxes during this period. School supplies and instructional materials priced at $20 or less will also be tax exempt. Even online vendors will be more affordable, as they will waive local and state sales taxes on designated items during the three-day tax holiday.
As Ohio’s business climate continues to improve thanks to lower taxes and doing away unnecessary bureaucracy, businesses have more confidence to set up shop in our state and families are able to keep more of their hard-earned money for when they need it most. In fact, since January 2011, these efforts have led to the creation of more than 428,000 new private sector jobs in our state.
I hope you mark your calendars again this year for August 5 through August 7 to take advantage of a weekend of savings and additional deals that will be taking place across Ohio during the 2016 Sales Tax Holiday.
For more information about Ohio’s Sales Tax Holiday, including specifics on which items qualify for savings, please visit the Ohio Department of Taxation’s website at www.tax.ohio.gov/sales_and_use/salestaxholiday/holiday.
Senator Bob Peterson represents the 17th District in the Ohio Senate, which encompasses all or part of Clinton, Fayette, Gallia, Highland, Jackson, Lawrence, Pickaway, Pike, Ross, and Vinton counties. Learn more at www.OhioSenate.gov/Peterson.