Newly Proposed Texas Tax Free Shopping Day
TEXAS – A new tax free shopping day is the works for Texas small business shoppers. House Bill 2694 is currently pending in Texas House Ways and Means Committee. The bill would allow small business retailers to sell items tax free on the Saturday after Thanksgiving, also known as Small Business Saturday. The sales tax holiday was created in 2010 for small business to complete with the Black Friday sales of large businesses.
If approved, the sales tax exemption will take effect September 2015 for this year’s Small Business Saturday on November 29. It will work just like the school supplies and clothing sales tax holiday Texas enacted in Augusts for back-to-school shopping.
The retail business is required to have a location in Texas and must not have collected more than $312,500 in sales tax during the preceding 12 months. The sales tax exemption is valid for all tangible personal property under $5,000.
About Davis & Davis LLC – Sales Tax Experts: Headquartered in Dallas, Texas, Davis & Davis LLC – Sales Tax Experts specializes in sales/use tax audit consulting and audit defense. Our team of consultants is comprised of former Big 4 sales tax consultants and state sales tax auditors. Each of our consultants has 15 to 20 years of experience, providing our clients with access to a highly specialized team of sales/use tax professionals. At Davis & Davis we are committed to maintaining the highest standards in our talent pool. We work hard to meet our clients’ needs by ensuring that you view our firm as an extension of your company and a member of your team.
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