New York Sales Tax Holiday 2016 going on right now

New York Sales Tax Holiday 2016 going on right now

Right now in New York, avoid the 4% New York Sales Tax.

New York State Department of Taxation and Finance today reminded holiday shoppers and retailers that clothing and footwear items sold for less than $110 are exempt from New York State’s 4% sales tax. Several counties exempt these items from local sales tax as well. These state and local exemptions will put more than $300 million into shoppers’ stockings this holiday season, adding to any deep sales discounts.

“On Black Friday, New York State helps deliver more purchasing power to consumers on the lookout for bargains,” said Acting Commissioner of Taxation and Finance Nonie Manion. “Our sales tax exemption on clothing and footwear items enhances holiday deals, keeping more money in consumers’ pockets.”

Shoppers statewide who make qualifying purchases don’t have to pay the 4% state sales tax.

Chautauqua, Chenango, Columbia, Delaware, Greene, Hamilton, Tioga, and Wayne Counties, as well as New York City, exempt clothing and footwear purchases under $110 from their local sales taxes.

This means an exemption for shoppers of nearly 9% in New York City and 8% in the eight participating counties. Even in counties that don’t offer the exemption, qualifying purchases will still be exempt from the 4% state sales tax, though the local sales tax (ranging from 3% to 4 7/8%) will be in effect.

The state exemption alone translates into nearly $900 million annually. The combined amount from the state and local sales tax exemptions is well over $1 billion annually.

Serious tax-free savings for New York shoppers

For example, a Queens parent, shopping for her two children in New York City, purchases two pairs of boots at $100 each, two shirts at $65 each, and two pairs of pants at $75 for a total of $480. The combined amount from state and local sales tax exemptions on her purchase is $42.

New York State Department of Taxation and Finance allowing sales tax free purchases under $110. New York Sales Tax Holiday 2016 is going on right now.

Keep up with all of the New York Sales Tax Holiday news on the main page.

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Posted in 2016, New York, Sales Tax Holiday

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