Nashville, TN – State Senator Bill Powers (R-Clarksville) is encouraging local residents to take advantage of Tennessee’s upcoming sales tax holidays, set to begin July 28th with the state’s annual back-to-school tax-free weekend. A three-month-long suspension on grocery sales tax begins August 1st.
The sales tax holidays are part of successful legislative efforts in the Tennessee General Assembly this year, supported by Powers, to pass the largest tax cut in Tennessee history.
Senator Powers says the sales tax holidays are intended to provide relief to Tennesseans amid rising inflation and food costs.
“These sales tax holidays are a great opportunity for citizens, families, students, and teachers to save money while grocery shopping and preparing to go back to school,” said Powers. “The tax cuts are also exciting news for local retail businesses. I hope all citizens take advantage of this weekend and shop at small businesses to help boost their local economies.”
The state’s annual back-to-school tax-free weekend runs from Friday, July 28th through Sunday, July 30th, and provides $10 million tax cut. Eligible purchases include clothing and shoes valued at $100.00 or less, school or art supplies costing $100.00 or less, and computers for personal use priced at $1,500 or less.
The three-month-long grocery sales tax holiday from August 1st through October 31st applies to food and food ingredients. However, it does not include prepared food, alcohol, dietary supplements, tobacco or candy. The state will replace local revenue lost, so local governments’ budgets will not be affected by this tax reduction.
The Tennessee Works Tax Act provides more than $404 million in savings for families and small businesses. These reforms will lower the tax burden on small businesses, boost Tennessee’s economic competitiveness, encourage entrepreneurship, and provide financial relief for families amid rising food costs.
The Tennessee General Assembly has cut more than $2.4 billion in state taxes since 2011. For information about the sales tax holidays for 2023 and a complete list of exempt and non-exempt items, visit www.tntaxholiday.com.
