LBMC

Beginning at 12:01am on Friday, August 1st and ending at 11:59pm on Sunday, August 3rd, Tennesseans will be able once again to take advantage of buying certain categories of otherwise taxable items in the state of Tennessee exempt from both state and local sales tax.

While it offers taxpayers a great opportunity to save tax dollars on these types of seasonal purchases it is important to note that the tax exemption provided has exceptions and limitations. Generally the exemption from the tax only applies to items in certain categories selling for $100 or less or computers selling for $1,500 or less. There is no limitation on the number of qualified items bought during this period. It is also important to know that the law also applies to purchases made over the phone or internet and also items placed on layaway.

Shoppers and retailers can find more information about the upcoming tax holiday at www.tntaxholiday.com, including lists of exempt items, frequently asked questions and more. Assistance is available via e-mail at Salestax.holiday@state.tn.us, and through a toll-free statewide telephone hot line by calling (800) 342-1003. [Out-of-state and Nashville-area callers, please dial (615) 253-0600.]

If you have further questions or if we can be of service in anyway please feel free to contact any of us as indicated below.

If you have any questions, please contact:

Mark Loftis, Nashville
(615) 309-2321 or mloftis@lbmc.com
Mason Barrick, Nashville
(615) 309-2204 or mbarrick@lbmc.com