When

From Friday 08/02/2013 12:01 a.m.

To 08/04/2013 Sunday 11:59 p.m.

Visit the Florida State Website for more information at www.myflorida.com/dor

What’s exempt

  • electronic devices costing up to $750
  • Excluded are software considered recreational, cellphones, digital media receivers and video game consoles, digital media receivers
  • Clothing, shoes and certain accessories selling for $75 or less
  • School supplies costing up to $15
  • The tax break applies to in-store and online purchases.

What’s not Exempt:

  • suitcases
  • skis
  • swim fins
  • jewelry
  • sporting equipment
  • skates, ,
  • masking tape
  • books
  • printer paper
  • staples/stapler

Coupons

  • Manufacturers’ coupons can’t be applied to reduce the cost of an item to qualify it for the exemption
  • Store coupons and discounts can be used to lower the price in order to make the item tax-free.

Sales are estimated by The Florida Retail Federation to reach about $400 million during the holiday.

The Minnesota Department of Revenue issues a statement of the tax effect of Marriage Equality on Minnesota taxes. Basically they are indicating that you should select your appropriate dependent status as of August 1, 2013 if you are legally married. The tax effect is unknown at this time until the IRS issues direction on the effect the US Supreme Court Ruling on U.S. v. Windsor. Once the IRS gives more direction further impact will be updated. To see the statement see below. Please note if you are viewing this from Twitter or Facebook the link to the Minnesota Department of Revenue may not work. You can always go to www.joelschmitz.com and click on blog.

 

http://www.revenue.state.mn.us/businesses/withholding/Pages/Same-SexMarriage.aspx