twin58
08-04-2006, 04:41 PM
If you live in Oregon or Montana, states without sales taxes, you're probably wondering what all the brouhaha is.
Today, Saturday, and Sunday, the sales tax will not be charged on the purchase of many items in the Commonwealth of Virginia. Naturally, the fine print has lots to say.
Penny-Wise Weekend in Virginia (http://www.washingtonpost.com/wp-dyn/content/article/2006/08/02/AR2006080201693.html)
Stores, Shoppers Gear Up for State's First Sales Tax Holiday
By Michael D. Shear and Sandhya Somashekhar
Washington Post Staff Writers
Thursday, August 3, 2006; Page B01
The Tax Man cometh. But not this weekend.
It's also time for the District's annual sales-tax holiday ... [and] Maryland's tax-free weekend will arrive in a few weeks.
....
Virginia's break applies only to school supplies that cost $20 or less an item and clothing or shoes costing $100 or less. But the law allows merchants to absorb the cost of the sales tax for any item, making it appear tax-free to customers.
As a result, several of the state's largest retailers -- Circuit City and Wal-Mart for example -- are expanding the sales tax break to entice customers during a normally slow time.
"We have decided to go ahead and not charge the sales tax for all products purchased in Virginia," said Bill Cimino, a spokesman for Circuit City, which is based in Richmond. "We've seen sales tax holidays in other states. We've seen the interest and the excitement generated by it."
The $99 iPod Shuffle? $99.
The Toshiba laptop for $1,349.99? Just that.
Even the $399.99 XBox Premium will not top the $400 mark.
Wal-Mart's stores in Virginia will pay the sales tax for computers or computer equipment during the weekend, according to a company statement this week.
....
[The Rules:]
The District
Saturday-Aug. 13: The exemption from the 5.75 percent sales tax covers school supplies, shoes, clothing and accessories costing $100 or less an item.
Maryland
Aug. 23-27: The exemption from the 5 percent sales tax includes clothes and shoes priced at $100 or less an item.
Virginia
Tomorrow-Sunday: During the state’s first sales tax holiday, retailers cannot charge the 5 percent sales tax on school supplies costing $20 or less an item and on clothing and shoes priced at $100 or less for each article. Retailers who sell merchandise other than school supplies, clothing and footwear may also participate in the holiday if they pay the sales tax on nonexempt merchandise sold during the weekend.
Sources: D.C. chief financial officer, comptroller of Maryland, Virginia Department of Taxation.
There was an ad in Friday's Washington Post for a store that cannot be named, due to TLF rules. Accordingly, I will alter the name beyond recongition. The fine print in the "Oprsst Ahiorttuy" ad says: "Tax-Free items include clothing and footwear under $100 and school supplies under $20. Sporting equipment for protective use is not tax exempt."
That means that, this weekend, you can buy a pair of lacrosse shoes without paying the sales tax, but if you buy a lacrosse helmet, you will pay the tax. Unless "Oprsst Ahiorttuy" or "Adm Alx" choose to absorb the tax, in which case you won't pay the tax.
Good luck finding a graphing calculator under $20. For that matter, good luck finding an inkjet cartridge under $20.
Today, Saturday, and Sunday, the sales tax will not be charged on the purchase of many items in the Commonwealth of Virginia. Naturally, the fine print has lots to say.
Penny-Wise Weekend in Virginia (http://www.washingtonpost.com/wp-dyn/content/article/2006/08/02/AR2006080201693.html)
Stores, Shoppers Gear Up for State's First Sales Tax Holiday
By Michael D. Shear and Sandhya Somashekhar
Washington Post Staff Writers
Thursday, August 3, 2006; Page B01
The Tax Man cometh. But not this weekend.
It's also time for the District's annual sales-tax holiday ... [and] Maryland's tax-free weekend will arrive in a few weeks.
....
Virginia's break applies only to school supplies that cost $20 or less an item and clothing or shoes costing $100 or less. But the law allows merchants to absorb the cost of the sales tax for any item, making it appear tax-free to customers.
As a result, several of the state's largest retailers -- Circuit City and Wal-Mart for example -- are expanding the sales tax break to entice customers during a normally slow time.
"We have decided to go ahead and not charge the sales tax for all products purchased in Virginia," said Bill Cimino, a spokesman for Circuit City, which is based in Richmond. "We've seen sales tax holidays in other states. We've seen the interest and the excitement generated by it."
The $99 iPod Shuffle? $99.
The Toshiba laptop for $1,349.99? Just that.
Even the $399.99 XBox Premium will not top the $400 mark.
Wal-Mart's stores in Virginia will pay the sales tax for computers or computer equipment during the weekend, according to a company statement this week.
....
[The Rules:]
The District
Saturday-Aug. 13: The exemption from the 5.75 percent sales tax covers school supplies, shoes, clothing and accessories costing $100 or less an item.
Maryland
Aug. 23-27: The exemption from the 5 percent sales tax includes clothes and shoes priced at $100 or less an item.
Virginia
Tomorrow-Sunday: During the state’s first sales tax holiday, retailers cannot charge the 5 percent sales tax on school supplies costing $20 or less an item and on clothing and shoes priced at $100 or less for each article. Retailers who sell merchandise other than school supplies, clothing and footwear may also participate in the holiday if they pay the sales tax on nonexempt merchandise sold during the weekend.
Sources: D.C. chief financial officer, comptroller of Maryland, Virginia Department of Taxation.
There was an ad in Friday's Washington Post for a store that cannot be named, due to TLF rules. Accordingly, I will alter the name beyond recongition. The fine print in the "Oprsst Ahiorttuy" ad says: "Tax-Free items include clothing and footwear under $100 and school supplies under $20. Sporting equipment for protective use is not tax exempt."
That means that, this weekend, you can buy a pair of lacrosse shoes without paying the sales tax, but if you buy a lacrosse helmet, you will pay the tax. Unless "Oprsst Ahiorttuy" or "Adm Alx" choose to absorb the tax, in which case you won't pay the tax.
Good luck finding a graphing calculator under $20. For that matter, good luck finding an inkjet cartridge under $20.