Tax-Free weekend set; most groceries untaxed Aug. 1-Oct. 31
District 7 state Sen. Dr. Richard Briggs (R-Farragut) is among Knoxville-metro state lawmakers encouraging Farragut and Knox County residents to take advantage of Tennessee’s upcoming sales-tax holidays, set to run from Friday, July 28, through Sunday, July 30, with the state’s annual back-to-school Tax-Free Weekend.
Providing an estimated $10 million tax cut, eligible purchases include clothing and shoes valued at $100 or less, school or art supplies costing $100 or less and computers for personal use priced at $1,500 or less.
Meanwhile, a three-month-long suspension on grocery sales tax begins Tuesday, Aug. 1, and runs through Oct. 31.
Local lawmakers say the sales tax holidays are intended to provide relief to Tennesseans amid rising inflation and food costs.
Mission Pack the Bus
Mission Pack the Bus School Supply Drive, benefitting Mission of Hope in its 10th year in Turkey Creek, coincides with Tax Free weekend Friday through Sunday. The drive runs from 10 a.m. to 6 p.m. each day at OfficeMax in Turkey Creek, 11012 Parkside Drive (and 7111 Kingston Pike), to help students in 29 rural Appalachia schools with back to school supplies. Sponsors are Crumbl Cookie (new in Turkey Creek), Blaze Pizza, OfficeMax and Little Bus Company. For more information, visit https://www.missionofhope.org
Three more months of cuts
The three-month-long grocery sales tax holiday is from Aug. 1 through Oct. 31 and applies to food and food ingredients. However, this sales tax break does not include prepared food, alcohol, dietary supplements, tobacco or candy.
Overall effects, benefits
“The state will replace local revenue lost, so local governments’ budgets will not be affected by this tax reduction,” a joint release from Briggs, fellow state Sen. Becky Massey (R-Knoxville) and Lt. Gov. Randy McNally (R-Oak Ridge) stated. “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,” the release further stated.
For more information about the sales tax holidays for 2023 and a complete list of exempt and non-exempt items, visit www.tntaxholiday.com
