No tax holiday for back-to-school buys

No tax holiday for back-to-school buys

State budget cuts included the popular back-to-school sales tax holiday that both parents and retailers look forward to each summer. Floridians have become accustomed to a 10-day sales tax holiday on back-to-school supplies as have retailers looking for that usual boost in summer sales.

No holiday this year due to budget cutbacks.

Florida lawmakers axed the popular break from the state's 6 percent sales tax and also did away with a similar tax holiday in hurricane supplies saying there wasn’t enough money for the state to afford losing the revenue from the sales tax.

In the past, the plan eliminated sales taxes on such items as school supplies and clothing for about ten days. Last year the tax break saved shoppers about $41 million.

The Florida Retail Federation says the loss of the tax break will definitely have an impact on the bottom line for stores, but they still plan to slash prices to try to attract back-to-school shoppers.

Georgia and Alabama are still offering back-to-school sales tax holidays.