You might have to travel to Alabama to take advantage of this weekend’s back-to-school sales tax holiday if your child’s school is starting the new year over the next few days, like those in Corinth or Laurel.
Sales tax holiday in Mississippi (Source: Magnolia State Live)
Never Miss Out on Sales Tax Holiday
According to the published news in Magnolia State Live, Mississippi’s sales tax holiday won’t take place until the last weekend of the month, despite some districts switching to a more year-round timetable, including Corinth starting on Thursday and Laurel starting on Monday. Don’t expect to receive the same discount if you go shopping on Sunday because it only lasts two days in the Magnolia State. At 1:00 a.m., the Mississippi Sales Tax Holiday officially starts. Friday, July 28 until Saturday, July 29 at midnight.
Retailers frequently arrange huge sales with significant discounts to coincide with the sales tax holiday weekend, even though it only saves a few percentage points on sales taxes.
Mississippi’s regulation is less harsh, even though customers can go across the state line to visit outlet malls or other shopping facilities early or for longer. Any article of clothing or footwear that can be worn to school and costs less than $100 is eligible; however, if the item costs more than $100, the entire sum is subject to tax. The state’s Department of Revenue cites shoes costing $110 as an example. All $110 of it is taxable income.
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Another Wave of Sales Tax Holiday
Waiting until Mississippi’s tax holiday has another advantage because it applies to the entire state, unlike Alabama’s statute, which permits counties and towns to opt-out.
All consumer purchases of clothing, footwear, and school supplies with sales prices of less than $100.00 per item will be exempt from sales taxes throughout the entire state during the sales tax holiday. According to the official instructions, the tax holiday does not apply to sales of any other items that are not designated as clothing or footwear.
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