Americans are returning to normal life, and for millions, that means shopping until they drop. Two states are adding a little rocket fuel to such spending by offering new sales tax breaks this summer.
From July 1-7, Florida will unveil the Freedom Week Sales Tax Holiday. During the week, shoppers will not pay sales taxes when buying qualifying recreation and outdoor items, as well as admissions to entertainment and cultural events. However, there are exclusions — for example, sales in a theme park don’t qualify — and there are caps on the amounts exempt from sales tax.
The state has created an online poster that details exactly which items qualify for the break — and the limits on how much you can save.
Items that will be tax-free include:
- General outdoor supplies
- Fishing supplies
- Camping supplies
- Boating and water activity supplies
- Sports equipment
- Admissions to various events and facilities
Tennessee’s new sales tax holiday lasts even longer. For one year — from July 1, 2021, through June 30, 2022 — there will be no sales tax on purchases of gun safes and gun safety devices. A Tennessee Department of Revenue webpage defines exactly which items qualify for the sales tax breaks.
From July 30 to Aug. 5, Tennessee also will bring back its sales tax holiday for food, food ingredients and prepared food.
This holiday is similar to one offered in 2020 to exempt restaurant food and drink purchases as a way to boost the economy during the COVID-19 pandemic.
More legal ways to avoid taxes
Even if you don’t live in the Sunshine State or the Volunteer State, there are still plenty of ways to avoid taxes — and we assure you, they are perfectly legal.
Who doesn’t dream of earning tax-free dollars? Money Talks News founder Stacy Johnson can help you turn those visions into reality. Read about his tips in “How Can I Get Tax-Free Income?”
We also have tips for avoiding the pesky clutches of the taxman in:
Finally, finding the right tax preparer can save you a bundle. So, check out our story “How to Get the Right Tax Pro at the Right Price.”
Yes, we know that tax season just wrapped up a month ago. But Uncle Sam’s determination to dip into your pockets never rests — so neither should you.
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