State Senator Ed Jackson, who serves Perry County as part of the 25th District, is encouraging local residents to take advantage of Tennessee’s upcoming sales tax holidays, set to begin July 28 with the state’s annual back-to-school tax-free weekend.
A three-month-long suspension on grocery sales tax begins August 1.
The sales tax holidays are part of legislative efforts in the General Assembly this year, supported by Jackson, to pass the largest tax cut in Tennessee history.
Sen. Jackson says the sales tax holidays are intended to provide relief to Tennesseans amid rising inflation and food costs.
“With the cost of living continuing to rise due to historic inflation, suspending the grocery tax for three months will provide direct relief to all Tennesseans,” said Sen. Jackson.
“And the back-to-school weekend sales tax holiday will reduce financial barriers for families preparing for the new school year. I am proud Tennessee is in the financial position to provide historic tax relief to citizens, and I am committed to continuing our state’s conservative fiscal management and record of low taxes.”
The state’s annual back-to-school tax-free weekend runs from this Friday, July 28, through Sunday, July 30, and provides a $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.
The three-month-long grocery sales tax holiday is from August 1 through October 31, and 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.