Tax Remittance

‘Tis the Season for Sales Tax Holidays – Preview Upcoming Dates for the Remainder of 2024

Concept of Upcoming Sales Tax Holidays for 2024

As the second half of 2024 begins, we would like to remind you about the upcoming sales tax holidays across the U.S. 

Happy Shopping! 

  • Alabama
    • Annual back-to-school sales tax holiday, July 19-21
  • Arkansas
    • Annual sales tax holiday (clothing, certain electronic devices, and school supplies, including art supplies and instructional materials), August 3–4, 2024
  • Connecticut
    • Clothing and footwear less than $100, August 18–24, 2024
  • Florida
    • Freedom Month sales tax holiday (certain outdoor activity supplies), July 1–31, and (admission to certain events) July 1-Dec 31, 2024
    • Back-to-school sales tax holiday, July 29–August 11, 2024
    • Disaster preparedness sales tax holiday, August 24–September 6, 2024
    • Tool time sales tax holiday, September 1–7, 2024 
  • Iowa
    • Clothing and footwear, August 2–3, 2024
  • Louisiana
    • Annual Second Amendment sales tax holiday, September 6–8, 2024
  • Maryland 
    • Annual tax-free week (clothing and footwear priced $100 or less; first $40 of qualifying backpacks or bookbags), August 11–17, 2024
  • Massachusetts
    • Annual sales tax holiday (most tangible personal property priced at $2500.00 or less), August 10–11, 2024
  • Mississippi 
    • Annual Second Amendment sales tax holiday, August 30–September 1, 2024
  • Missouri 
    • Annual back-to-school sales tax holiday, August 2–4, 2024
  • Nevada
    • Active-duty Nevada National Guard sales tax holiday, October 25–27, 2024
  • New Mexico
    • Annual back-to-school sales tax holiday, August 2–4, 2024
    • Small business Saturday gross receipts tax holiday, November 30, 2024
  • Ohio 
    • Annual sales tax holiday (most tangible personal property less than $500.00), July 30–August 8, 2024
  • Oklahoma
    •  Sales tax holiday (clothing and footwear less than $100), August 2–4, 2024
  • Puerto Rico 
    • Annual back-to-school sales tax holiday, July 19–20, 2024
  • South Carolina 
    • Annual sales tax holiday (clothing and footwear, school supplies, select bed and bath items, and some misc. products *No price restrictions), August 2–4, 2024
  • Tennessee 
    • Annual sales tax holiday (apparel priced $100 or less, school and art supplies priced $100 or less, computers, laptops, and tablets priced $1500.00 or less), July 26–28, 2024
  • Texas 
    • Annual sales tax holiday (clothing, footwear, cloth, and disposable masks, certain school supplies, and backpacks priced under $100.00), August 9–11, 2024
  • Virginia 
    • Annual sales tax holiday clothing, footwear, EnergyStar and WaterSense Products, portable generators, gas-powered chain saws, specified emergency preparedness items, and school supplies) *Price restrictions, August 2–4, 2024
  • West Virginia 
    • Annual sales tax holiday (clothing and footwear, school instructional materials and supplies, computers, sports equipment) *Price restrictions / *Certain products do not qualify,August 2–5, 2024

This list is not exhaustive; please contact Thompson Tax today for more details. We are always just a phone call away.

Virginia Offers One-Time Safe Harbor for Contractor Sales and Use Tax Remittance

Sunset View of a Port with Boats

Virginia has introduced a new policy allowing a one-time safe harbor for contractors who have omitted or inaccurately remitted retail sales and use taxes. Starting from July 1, 2024, the Department of Taxation can use a contractor’s erroneously collected retail sales tax payments to offset a use tax assessment related to the transaction. 

How to Qualify

To qualify for this safe harbor, the contractor must demonstrate that the property for which sales tax was incorrectly collected and remitted is the same property used in realty and is subject to a use tax assessment.

Next Steps

After receiving this relief, the contractor must either pay sales tax to its vendors or remit the use tax directly to the Department for its purchases of tangible personal property used in its real property contracts. This relief is a one-time opportunity designed to help contractors in response to industry confusion. This new policy is aimed at providing a temporary reprieve for contractors who may have inadvertently erred in their tax remittances, offering them a chance to rectify the situation and ensure compliance with tax regulations moving forward.

For more information, reach out to Thompson Tax today. We are your Trusted Tax Advisors.