July is here, which makes us think about what is around the corner, back to school and the back-to-school tax-free weekend. But we have exciting news… tax holidays for July were signed into effect earlier in the year by the governor! Meaning there are more ways for you to save money! Want to know more? Keep reading! We broke it down below to explain what this means for you and when we will be having these tax holidays.
What is Tax?
According to Britannica, tax is an amount of money that a government requires people to pay according to their income, the value of their property, etc. This money is then used to pay for the things done by the government.
Why Does Tax Have a Holiday?
According to Investopedia, tax holidays are a government incentive program that offers a tax reduction or elimination to consumers or businesses for a temporary period. Tax holidays are used either by state or local governments to promote the sales of goods and services.
How Does This Affect Me?
For these upcoming tax holidays, you would be paying little to no taxes on the items that have a tax holiday during their designated holiday period. These tax holidays could ultimately save you and your family money on something that may be a necessity.
Florida Tax Holidays During July
Below is a list of the Florida tax holidays going on during July with their corresponding holiday periods.
- Children Books Sales Tax Holiday
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- May 14 – August 14, 2022
- Freedom Week Sales Tax Holiday
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- July 1-7, 2022
- Windows and Doors Sales Tax Holiday
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- July 1, 2022 – June 30, 2024
- Children Clothing Sales Tax Holiday
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- July 1, 2022 – June 30, 2023
- Energy Star Sales Tax Holiday
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- July 1, 2022 – June 30, 2023
- Children Diapers Sales Tax Holiday
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- July 1, 2022 – June 30, 2023
- Annual Back to School Holiday
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- July 25 – August 7, 2022
What do these tax holidays mean?
Tax holidays typically mean a tax reduction on a particular item or list of products based on the specifications of the tax holiday. In these cases for the state of Florida, we will have tax reductions or eliminations on sales tax for children books, windows and doors, children clothing, energy star appliances, children diapers, and back-to-school items. Each holiday has its specifications and possible restrictions, so please keep that in mind if you plan on purchasing something that you presume to be covered by one of these tax holidays.
Want to learn more about each of these tax holidays? Check out our sources below!
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