Did you know there are TWO Back-to-School Sales Tax Holidays each year in the state of Florida? Traditionally, families have taken advantage of these savings as the summer comes to an end. But there is a second tax holiday in January as well. For 2024, it will begin Monday, January 1 and end on Sunday, January 14. That's two weeks of savings!
During the sales tax holiday period, tax is not due on the retail sale of:
• Clothing, footwear, and accessories with a sales price of $100 or less per item
• Most school supplies with a sales price of $50 or less per item
• Learning aids and jigsaw puzzles with a sales price of $30 or less
• Computers and accessories with a sales price of $1,500 or less, when purchased for noncommercial home or personal use.
For a detailed list of included items, visit the Florida Department of Revenue.
Here are some additional tips to help you make the most of the savings window:
Make a list and stick to it
You may not receive a list from your child's school for supplies needed mid year, but you know what your student is running out of, or what the teacher regularly asks for. And, chances are high there has been a growth spurt or two so far this school year. Write down all the eligible items you can think of your family needs at this point, and prepare to save! If you are planning on gifting a big ticket item for the holidays like a laptop, why not print out an I Owe You certificate to present in December, then make your purchase in January to take advantage of the sales tax holiday? It might be worth the wait when you can save on taxes for those purchases.
Use coupons and price-matching
Before you make a purchase, scan the items in your cart to make sure you are getting the best deal. Sites like Amazon have a barcode reader and will pull up the item. If you can find it for less at another retailer, take the proof to the store’s register and ask for a price match. If they can’t do it at the register, they should be able to at customer service. Most stores will honor their competitor’s coupons as well. It’s always worth asking!
BONUS TIP!
Earn rewards while you shop for back to school with your First Federal Bank debit card and the uChoose Rewards program. You can earn points at hundreds of retailers, including Belk, Kohl’s, Old Navy, Sam’s Club, and Walmart. Redeem the points you earn for merchandise, travel, gift cards, even cash back! Register your First Federal Visa Debit Card at uchooserewards.com, keep track of your points, check for online specials, and redeem points for travel, gift cards, merchandise, even cash back!
The start of a new year is typically a period when people are looking for a break on their expenses, after spending more than usual over the holiday season. The January Back-to-School Sales Tax Holiday comes at a very welcome time!