What does the Back-School Sales Tax Holiday mean for you? | JMR Financial GroupMay 18th, 2018
What does the Back-School Sales Tax Holiday mean for you?
Wisconsin’s August back-to-school sales tax holiday will keep money in the pockets of hardworking taxpayers.
Wisconsin sales tax will be waived for everyone on purchases of school-related expenses, including clothing under $75, computers under $750, school computer supplies under $250, and school supplies under $75 from August 1-5, 2018.
The Department of Revenue estimates that the one-time, five-day sales tax holiday will provide approximately $14.8 million in tax relief in fiscal year 2019.
It will also benefit businesses, with recent research suggesting that tax rebates and sales tax holidays will lead to an increase in consumer consumption and output.
For more information, visit http://news.cchgroup.com/2018/04/18/wisconsin-enacts-back-to-school-sales-tax-holiday-rebate/ or https://walker.wi.gov/fact-sheets/fact-sheet-governor-walkers-100-child-tax-rebate-back-school-sales-tax-holiday .« What does the $100-Per-Child Tax Rebate mean for you? || Outsource Your Accounting, Payroll and Tax Responsiblilities »