Oklahomans, mark your calendars. The much-awaited tax-free weekend is just around the corner, providing a great opportunity for back-to-school shoppers to save some extra cash.
Since 2007, Oklahoma law has mandated the waiving of sales tax on certain items during the first week of August, and this year is no exception.
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The tax-free weekend for 2023 will kick off at 12:01 a.m. Friday and will conclude at midnight Sunday. During this time, the state sales tax of 4.5% will be completely waived, and even county and municipal taxes will be exempted, resulting in a higher overall discount for shoppers.
What is included in Oklahoma’s tax-free weekend?
Clothing and footwear priced at less than $100 will be exempt from sales taxes. However, it’s important to note that accessories and special clothing designed for “athletic activity or protective use” will still be taxed. To get a detailed understanding of the items eligible for waived sales tax, refer to the full list provided by the authorities.
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Can use coupons during the tax-free weekend?
Yes. Coupons not only increase your discount but also can be utilized to bring down the price of an item to fit within the tax holiday’s $100 threshold.
For instance, if you find an item you desire priced at $105, it would normally be too expensive for the waived taxes. However, if you have a retailer coupon that brings the price down to $95, the item would qualify for the tax exemption.
It’s worth mentioning that manufacturer coupons, which require retailers to seek third-party reimbursement, do not reduce the item’s price for the purpose of tax-free eligibility.
Are online purchases included in Oklahoma’s tax-free weekend?
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Yes. However, it is important to remember that you must place and pay for the order during the tax-free weekend, and the retailer must accept the order for it to be eligible for the exemption.
If you prefer to shop via layaway, you’ll be pleased to know that Oklahoma’s tax-free weekend covers that too. However, it’s crucial to ensure that the final payment for the layaway item is made during the tax-free weekend to avail the exemption.
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While the tax-free weekend can be a bustling time for shoppers, it’s worth noting that raincheck items do not qualify for the exemption. With a considerable number of consumers taking advantage of this sales-tax holiday, popular items may run out quickly. Therefore, it’s advisable to plan your purchases accordingly and redeem raincheck items after the tax-free weekend, understanding that they will be taxable.
Remember, if you live outside Oklahoma, there might be similar tax-free holidays in your state. Check out our roundup of nationwide tax-free holidays to see if you can benefit from this special opportunity.
Source: https://t-tees.com
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