Iowa’s Tax-Free Weekend: Get the scoop on upcoming deals.
Iowa’s Tax-Free Holiday: Shop ‘Til You Drop!
Get ready, Iowa residents! In just one week, you’ll have the incredible opportunity to indulge in some guilt-free shopping. That’s right, it’s Iowa’s tax-free holiday, where you can splurge on clothing without worrying about those pesky state or local sales taxes.
The festivities kick off on August 4 at 12:01 a.m. and continue until 11:59 p.m. on August 5. Perfect timing for all the back-to-school shopping that’s on your to-do list. And with Iowa’s sales taxes ranging from 6% to 7%, this tax-free extravaganza is not to be missed!
What’s Included in the Tax-Free Holiday?
During this magical time, certain clothing and footwear items priced under $100 will be exempt from sales tax. So, go ahead and stock up on all your favorite apparel, shoes, and even diapers. Just remember, each item must be under $100 to qualify for the tax exemption.
However, it’s important to note that not everything is fair game. Items like jewelry, sporting equipment, and specialized athletic clothing or footwear won’t be eligible for the sales tax exemption. And sorry, but school supplies like backpacks, folders, and pencils are also not included in the tax-free holiday.
Where Can You Shop for Tax-Exempt Items?
Good news! Both big-box stores and small businesses across Iowa will be participating in the tax-free weekend. So, whether you prefer the convenience of a major retailer or the charm of a local boutique, you’ll have plenty of options to choose from. And guess what? Even online purchases are eligible for the sales tax exemption. So, get your shopping carts ready!
Can You Use Coupons or Take Advantage of Sales?
While you can definitely take advantage of sales and discounts during the tax-free holiday, there are a few rules to keep in mind. Items that are part of a “buy one, get one free” or “buy one, get one for a reduced price” deal cannot be averaged for both items to be exempt from sales tax.
However, if the first item is worth over $100 and the second item is discounted by half, the sales tax will only be charged on the first item. So, you can still snag a great deal on that second item without worrying about the tax.
When it comes to coupons, manufacturers’ coupons won’t help you qualify for the sales tax exemption if they bring the price of an item below $100. However, fear not! Store coupons and discounts can be used to bring the price of an item below $100, making it eligible for the tax exemption.
What About Exchanges?
Thinking of exchanging a tax-exempt purchase? Here’s what you need to know. If you’re swapping a qualifying item for the same item in a different color or size, you won’t be charged any additional tax. However, if you decide to return an eligible item for a different item or store credit, the sales tax associated with that location will apply to the price of the newly-purchased item.
So, mark your calendars and get ready to shop ’til you drop during Iowa’s tax-free holiday. It’s the perfect opportunity to save some cash while treating yourself and your loved ones to some fabulous new additions to your wardrobe!
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