Mississippi Sales Tax Holiday Guide 2023

Mississippi Sales Tax Holiday Guide 2023

The Mississippi Sales Tax Holiday: Saving Money and Getting Ready for School

Paying taxes can be a downer, especially when it comes to everyday essentials like groceries. However, Mississippi residents can take advantage of the Mississippi sales tax holiday to save a significant amount of money. Mississippi is one of only 13 states that still tax groceries, so any opportunity for tax savings is a welcome one. Although groceries are not included in the sales tax holiday, there are plenty of other items that qualify. In this article, we will explore the details of the Mississippi sales tax holiday and how it can benefit families.

When is the Mississippi Sales Tax Holiday?

The Mississippi sales tax holiday only runs for two days in 2023, starting from 12:01 AM on July 28th and ending at midnight on July 29th. The good news is that the tax holiday includes both in-store and online purchases. However, for online orders, the items must be shipped to a Mississippi address to qualify for tax exemption.

Tax-Free Weekend in Mississippi: What Purchases Qualify?

The sales tax holiday in Mississippi primarily focuses on back-to-school items, ranging from school supplies to clothing. Only individual items under $100 qualify as tax-exempt, but there is no limit on the number of eligible items you can purchase. So, even if your total exceeds $100, you can still enjoy the tax-free benefit.

It’s important to note that eligible clothing items are not limited to school-age children. Anyone can take advantage of this opportunity, including babies and adults. Here’s a non-exhaustive list of items that are eligible for tax exemption during the 2023 sales tax holiday:

• Hats, socks, and undergarments
• Workout clothing and swimsuits
• Shoes and slippers
• Backpacks and lunch boxes
• Jeans and pants
• Shirts and bowties
• Crayons, pencils, pens, and highlighters
• Notebooks, binders, drawing pads, and index cards
• Writing tablets and textbooks

Sales Tax on Electronics in Mississippi

While some states have included electronics like computers and tablets in their sales tax holidays, Mississippi has not yet adopted this benefit. Therefore, if you’re planning to purchase electronics, such as laptops or smartphones, during the sales tax holiday, be prepared to pay the regular sales tax.

• Tennessee Sales Tax Holiday This Weekend
• Optimal Stocks for Higher Interest Rates
• 4 Questions for Introducing Clients to New Fintech

Back to School Sales and Coupons

The rules for back-to-school sales and coupons during Mississippi’s sales tax holiday can be a bit tricky. However, a little understanding can go a long way to maximize your savings. Here are some important points to keep in mind:

• Manufacturer’s coupons that reduce an item’s price to under $100 do not qualify the item for the sales tax holiday.
• Retail coupons that bring an item’s price under $100 do qualify the item for the sales tax holiday.
• Layaway purchases made during the sales tax holiday are not tax-exempt, regardless of the price.
• Buy-one-get-one (BOGO) sales might qualify an item for the Mississippi sales tax holiday. For instance, a buy-one-get-one-free sale on a pair of $120 sneakers would not qualify. However, a buy-one-get-one 50% off sale on the same pair of shoes would qualify for tax exemption, as one pair would be $120 and the other pair $60.

The nuances of these rules can be a little confusing, so it’s worthwhile to double-check with retailers to ensure you’re getting the maximum benefit from available discounts and coupons.

The Mississippi sales tax holiday is an excellent opportunity to save money and prepare for the upcoming school year. By taking advantage of the tax exemption on qualified items, you can stretch your budget further and make the most of your back-to-school shopping. Whether you’re buying clothes for yourself, your children, or stocking up on school supplies, this tax holiday provides a temporary respite from the burden of sales tax. So mark your calendars and get ready to make a tax-free shopping spree!

Note: The information provided in this article is subject to change. Please confirm the details of the Mississippi sales tax holiday with the Mississippi Department of Revenue or other authoritative sources.

• News
• serversidehawk
• state tax
• taxes
• videoarticle