Post by Logan on Feb 24, 2016 0:29:19 GMT -6
A bill that would once again create a three-day sales tax holiday in August passed the Senate with overwhelming support.
Sen. Kevin Bacon, R-Minerva Park, wanted to make permanent the three-day sales tax break from 2015, but after conversations with some other senators and the Ohio Department of Taxation, he agreed to once again make it for one year.
“The proof was in the pudding with the results in 2015, and I think you’re going to see really good results again this year,” Bacon said, pointing to a study by the University of Cincinnati that estimates the state saw a net tax revenue gain of $4.7 million over the three days, thanks to purchases of taxed items and increased sales in border counties.
Like last year, the bill would exempt from state and county sales tax articles of clothing priced up to $75 each, and common school supplies and instructional materials up to $20 each.
Read more: www.dispatch.com/content/stories/local/2016/02/23/senate-passes-sales-tax-holiday.html
Sen. Kevin Bacon, R-Minerva Park, wanted to make permanent the three-day sales tax break from 2015, but after conversations with some other senators and the Ohio Department of Taxation, he agreed to once again make it for one year.
“The proof was in the pudding with the results in 2015, and I think you’re going to see really good results again this year,” Bacon said, pointing to a study by the University of Cincinnati that estimates the state saw a net tax revenue gain of $4.7 million over the three days, thanks to purchases of taxed items and increased sales in border counties.
Like last year, the bill would exempt from state and county sales tax articles of clothing priced up to $75 each, and common school supplies and instructional materials up to $20 each.
Read more: www.dispatch.com/content/stories/local/2016/02/23/senate-passes-sales-tax-holiday.html