HARTFORD, C.T. (WPIX) -
Financial woes aside, Connecticut is getting set for its Sales Tax Holiday Week, which will run from Sunday, August 16, through August 22.
During the Sales Tax Holiday Week, most individual items of clothing and footwear priced under $300 are exempt from Connecticut's sales and use tax. During that week, the increased exemption replaces the standard exemption for clothing under $50. For purchases costing $300 or more, sales tax is calculated on the full cost of the item.
Connecticut has had the tax-exemption week for nine years running. As of late, the state has been undergoing budget woes, to the point which both Gov. M. Jodi Rell and the General Assembly's majority Democrats had proposed scrapping the tax exemption on most individual items of clothing and footwear priced under $300, on the argument that the state could no longer afford it.
Nonetheless, the tax-free week will launch, due to the lack of an agreement for a new two-year budget. It is expected to cost the state $3.3 million.
State Rep. John Frey of Ridgefield backs shoppers' interests. "In these tough economic times, every little bit of relief helps," he said. "Fortunately, Connecticut shoppers will again be offered tax free shopping for one week this year, just in time for the busy 'back to school' season."
Gov. M. Jodi Rell said, "Every year, shoppers and retailers look forward to the third week in August as a way to boost their bottom line."
She continued, "And given the present state of the economy, the annual Sales Tax Holiday Week has become even more important. Consumers can get the most for their money and merchants see an increase in sales -- everyone benefits."
Gov. Rell urged that we look at the silver lining of what will transpire from the week, stating the benefits of the program to the state's consumers and businesses far outweigh this temporary revenue loss.
During the Sales Tax Holiday Week, most individual items of clothing and footwear priced under $300 are exempt from Connecticut's sales and use tax. During that week, the increased exemption replaces the standard exemption for clothing under $50. For purchases costing $300 or more, sales tax is calculated on the full cost of the item.
Connecticut has had the tax-exemption week for nine years running. As of late, the state has been undergoing budget woes, to the point which both Gov. M. Jodi Rell and the General Assembly's majority Democrats had proposed scrapping the tax exemption on most individual items of clothing and footwear priced under $300, on the argument that the state could no longer afford it.
Nonetheless, the tax-free week will launch, due to the lack of an agreement for a new two-year budget. It is expected to cost the state $3.3 million.
State Rep. John Frey of Ridgefield backs shoppers' interests. "In these tough economic times, every little bit of relief helps," he said. "Fortunately, Connecticut shoppers will again be offered tax free shopping for one week this year, just in time for the busy 'back to school' season."
Gov. M. Jodi Rell said, "Every year, shoppers and retailers look forward to the third week in August as a way to boost their bottom line."
She continued, "And given the present state of the economy, the annual Sales Tax Holiday Week has become even more important. Consumers can get the most for their money and merchants see an increase in sales -- everyone benefits."
Gov. Rell urged that we look at the silver lining of what will transpire from the week, stating the benefits of the program to the state's consumers and businesses far outweigh this temporary revenue loss.
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