Back-to-school shopping will be a little easier on the pockets of South Carolinians this Friday through Sunday, thanks to the annual sales tax holiday approved by South Carolina’s lawmakers and supported by the South Carolina Retail Association, the trade group said in a release this week.
The three-day event is popular among South Carolina consumers because it provides a tax break as they make necessary purchases for school or college. A study conducted in the state of Florida found that the sales tax holiday actually increases state revenues through sales tax on ancillary purchases, trips to mall food courts or other eateries and increased hotel room nights, as well as increased jobs and payroll taxes that come from these jobs.
The sales tax holiday in South Carolina is scheduled to run from 12:01 am on Friday, Aug. 7 until midnight on Sunday, Aug. 9.
“South Carolina’s annual sales tax holiday is important to the state’s consumers and business owners, the retail market and especially to the overall economy,” said S.C. Retail Association Executive Director Lindsey Kueffner. “It’s a popular tax break on back-to-school necessities for hardworking families. Shoppers enjoy the sales and savings, and retailers get a nice boost from it. It’s a win-win.”
The South Carolina Retail Association is a trade association whose mission is to improve the public image, effectiveness and profitability of the retail industry in the Palmetto state. The tax-exempt trade group is supported entirely by member business’ dues.