If you haven’t yet purchased school supplies and clothing, wait a few more days to get them at a special price. The Ohio sales tax holiday weekend starts this Friday, giving shoppers an opportunity to save on back-to-school supplies and other eligible items.
Ohio Sales Tax Holiday Weekend: What’s The Need?
Ohio’s annual sales tax holiday weekend will take place this weekend, i.e., from August 4 to 6. With back-to-school season approaching and inflation still a concern for many, the Ohio sales tax holiday weekend could offer big savings to parents.
Parents with children in K-12 are expected to spend around $890.07 on back-to-school items, an increase of $25 from last year.
Moreover, average spending from families preparing their children to go back to college is expected to be $1,366.95, up more than $167 from last year. Total back-to-college spending this year is expected to be around $94 billion, an increase of $20 billion from last year.
How To Prepare For The Tax Free Weekend
As for what items qualify for the Ohio sales tax holiday weekend, the sales tax exemption applies to school supplies, school learning materials, as well as clothing items. To view the complete list of items eligible for the sales tax exemption, visit this link.
You can buy as many items as you want, provided the price of each individual school supply/instructional material does not exceed $20 and the prices of other eligible items must not exceed $75. For example, a pair of jeans with a $50 price tag will be eligible for sales tax exemption but not a $40 calculator.
The threshold price hasn’t changed since the start of the holiday weekend, but it may change next year. Ohio lawmakers hope to raise the threshold price next year, as well as extend the tax-free shopping for two weeks.
It must be noted that eligible items purchased online (mail, telephone, email, or internet) qualify for sales tax exemption provided the shopper orders and pays for the item during the weekend.
“…if the order and payment were made before the sales tax holiday, even if the item was delivered during the sales tax holiday, it would not qualify for the exemption,” says the Ohio Department of Taxation.
Also, buyers will be allowed to use coupons or discounts in addition to the sales tax exemption as long as the price of individual items doesn’t exceed the limit.
A survey by NRF of 7,843 consumers over the age of 18 found that 49% of shoppers do their back-to-college shopping online, 35% at department stores and 33% at discount stores.
According to NRF, electronics is top on the list for both back-to-school and back-to-college shoppers. Electronics, clothes and shoes are the top categories among back-to-school shoppers, while for back-to-college shoppers, it is electronics, furnishings for dorms and apartments, and clothes.
