The back-to-school commercials are unavoidable on TV, but what you might NOT be aware of is the NJ State Sales tax holiday on retail sales which include certain back-to-school supplies.
The tax holiday provides an exemption from sales tax on certain sales when sold to an individual purchaser for non-business use, such as school-related supplies and items. But an important fact to be aware of is that the tax holiday is only in place for a matter of days. This year, the tax holiday will end on September 5th. Especially for expensive items such as technology, textbooks, and sports equipment, the tax dollars saved can really add up to a meaningful amount. Take advantage of this now and plan your shopping before the deadline.
For information about the tax holiday, including the list of items that are exempt from sales tax and Sales Tax Holiday FAQ's, visit this page from the NJ Treasury's Department of Taxation.
Bowman & Company LLP is proud to have dozens of experts in both tax matters as well as public school accounting. Follow up with us using the button below, and we'll direct your questions and/or business inquiries to the appropriate staff.