Georgia will not have a Sales Tax Holiday in 2010. In previous years, we had some days in which you could shop for back to school clothes, computers, etc without a Georgia Sales Tax. Shoppers won't have that break this year.
Although three Bills were brought forward (HB 951, 952, and 953), none were passed during legislative sessions. So we will not have a Tax-free weekend.
The Sales Tax holiday for school supplies, energy efficient, and water efficient products has been suspended for 2010.
Here are the cold, hard facts in black and white from the Georgia Department of Revenue. (PDF)
Monday, July 26, 2010
2 comments:
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I have mixed emotions on this one. I understand the need for Georgia residents to receive the tax break, but I also know that it is an enormous hit on the revenues for the state. I'm leaning towards supporting this decision, because the state will have to find that money someplace else and the effect will be more severe.
ReplyDeleteAt times I wonder if people overspent on those days due to the tax break. Credit cards are maxed out with a sense of frenzy. I hope people will pause before spending and decide if they need to purchase the items.
It's time for us to be wise in our spending and look after our futures.
It's probably true that some people charged stuff to credit cards with 20% interest rate in order to "save" 6% in taxes.
ReplyDeleteBut this is the first year that I actually considered taking part in this (with a debit card!) to get a little bit of a break, so I'm sort of disappointed. However, I'm not sure this tax break actually stimulated the economy much either.