Covers All Purchases Under $110
For the second consecutive year, the state will provide consumers and businesses welcome relief at the register. Beginning Apr. 1, clothing, footwear and related items sold for less than $110 each will be exempt from New York’s four percent sales tax.
The tax-free offer-which Assemblyman Mike Miller helped pass into law-applies to all relevant items purchased in person, over the Internet, by phone or by mail. The qualifying amount for the exemption has doubled since last year, when it only applied to apparel at or below $55.
“This savings is good news for hardworking families and local businesses, and it can’t come at a better time,” according to a statement from Miller’s office. “While the economy is slowly regaining its strength, working and middle-class families are still getting back on their feet. The sales tax cut-which will save taxpayers $210 million-will provide much-needed help with clothing and footwear expenses.”
The exemption aims to help working families afford necessities, as well as energize the local economy by giving consumers more incentive to shop. It will also provide businesses with an influx of customers, including shoppers from neighboring states like New Jersey and Pennsylvania.
“We are taking a step in the right direction with this sales tax exemption measure, but there is plenty more work to be done,” Miller added. “I’ll continue working to ease the financial burden on hardworking families and small businesses.”
For more information on the sales tax exemption, visit the New York State Department of Taxation and Finance online at www.tax.ny.gov.
