STATE: The SC Retail Association Welcomes Annual Sales Tax Holiday and Predicts Big Shopping Weekend
South Carolina’s Sales Tax Holiday Benefits Consumers, Businesses and the State’s Economy
Columbia - Back to school shopping will be a little easier on the pockets of South Carolinians August 3-5, thanks to the annual Sales Tax Holiday approved by South Carolina’s lawmakers in 2005 and supported by the South Carolina Retail Association (http://www.scretail.org).
The three-day event remains popular among South Carolina consumers because it helps families stretch their dollar as they make necessary purchases for school or college. Nationally, families with children in elementary, middle and high school spend almost $700 per child, according to the latest report from the National Retail Federation. If they have a child in college, families are spending closer to $970 per child.
Retailers often couple their own sales and discounts on to the sales tax holiday as an opportunity to draw shoppers to their stores. Retailers in South Carolina’s border counties may get an additional boost this weekend as shoppers from North Carolina and Georgia cross state lines to enjoy the added savings.
The Sales Tax Holiday in South Carolina is scheduled to run from 12:01 am on Friday, August 3 until midnight on Sunday, August 5. Click here for the Department of Revenue’s Frequently Asked Questions. [NOTE: No new changes this year.]
“South Carolina’s annual Sales Tax Holiday is important to the state’s consumers and business owners, the retail market and the overall economy,” said SC Retail Association Executive Director Lindsey Kueffner. “In years past, shoppers have saved between $2 and $3 million during the weekend. It’s a great way for hard-working families to save money on back-to-school necessities. While shoppers enjoy the sales and savings, the retailers get a nice boost from it. It’s a win-win.”