Lake Norman News, Events and Celebrations

North Carolina’s Tax Free Week-End is here!

 

 

Our annual sales tax holiday is this weekend,  August 3rd through August 5th! Created in an effort to help families during the costly back-to-school shopping time, the “August Sales Tax Holiday provides an exemption for certain items of tangible personal property sold between 12.01 am on Friday, August 3, 2012 and 11:59 pm Sunday, August 5th” according to the North Carolina Department of Revenue website.

While this program was created to help make back-to-school shopping more affordable for parents it truly is something from which we all can benefit.

For those of you new to the Mooresville Lake Norman area, every year North Carolina sets three days as “tax exempt” just for back-to-school supplies. What a great way to help out parents, especially this year with our continuing economic and housing struggles.

Here is a list of the items the qualify for exemption from sales tax:

  • Clothing & footwear $100 or less per item (including outerwear, shoes and diapers)
  • School supplies of $100 or less per item (including backpacks, paper, notebooks, calculators, lunchboxes and other writing and art supplies)
  • A separate exemption for instructional materials such as reference books, maps, globes, workbooks and textbooks of $300 or less per item
  • Computers of $3,500 or less per item
  • Computer accessories such as discs and printer ink at $250 or less per item
  • Tablet computers amd net-books of $3500 or less per item qualify but eReaders do not
  • School Sports and recreation equipment of $50 or less per item

Items NOT covered include:

  • Computer parts such as monitors, keyboards or speakers unless sold as part of a package including the computer
  • Jewelry and cosmetics and clothing accessories
  • Protective equipment such as hardhats, safety belts and tool belts
  • Wallets
  • Furniture
  • Items used in a trade or business
  • Rentals

The North Carolina Department of Revenue has a website: dor.state.nc.us/taxes/sales/salestax_holiday.html where you will find a list of exempt items and a listing of frequently asked questions.  All retailers in North Carolina that sell these designated items are required to participate according to the NC Department of Revenue.

Don’t forget that we have a Staples and Best Buy in Mooresville on Hwy 150 just across the street from our Super Target and down the road from our Super WalMart. With all of these large stores so close together it’s a great way to save on gas too.  Most of these stores are offering back-to-school specials for this weekend as well.

This is a wonderful opportunity to get the kids out of the house (or out of the lake) and enjoy a chance to save a bit of money as school is just around the corner!

 

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