Economy

Second Florida Sales Tax Holiday to Stock Up on Hurricane Supplies: All You Need to Know

JamesBrey / E+ via Getty Images

Florida is having a second “disaster preparedness” sales tax holiday to encourage residents to stock up on hurricane supplies. The second Florida sales tax holiday comes as the state approaches what is typically the most active part of the hurricane season. The second Florida sales tax holiday started on August 26, and will run through September 8.

Second Florida Sales Tax Holiday: All You Need To Know

This year is the first time the state has held two disaster-preparedness tax holidays. The first one was scheduled from May 27 to June 9, and the second is currently ongoing. Shoppers are estimated to save around $143.8 million in sales taxes over the two periods.

August, September and October are generally the busiest months of the hurricane season. Although there is no limit on the number of qualifying items, the tax exemption only applies to items under certain price limits.

For instance, during the second Florida sales tax holiday, residents won’t have to pay any sales tax on batteries, flashlights, power banks and generators below $3,000. You can view the full list of exempt items at the Florida Department of Revenue website.

The sales tax holiday doesn’t apply to commercial purchases of eligible pet evacuation supplies; sales in a public lodging establishment, theme park, airport and entertainment complex; and rental or repair of items.

If you purchased a gift card during the sales tax holiday, you won’t be able to get the tax exemption for purchasing tax-exempt items after the tax holiday ends. You can only purchase the qualifying items during the sales tax holiday. Similarly, you can’t use a rain check issued during the sales tax holiday to get the tax exemption after the end of the tax holiday period.

It must be noted that the sales tax exemption will also apply to qualifying items purchased online during the holiday period. The exemption will apply even if the delivery is made after the tax holiday.

Other Tax Holiday Period From Florida

In addition to the second Florida sales tax holiday to stock up on hurricane supplies, lawmakers passed a series of tax holidays this spring. For instance, lawmakers approved a three-month tax holiday dubbed “Freedom Summer.”

The Freedom Summer holiday offers sales-tax exemptions on entertainment, as well as recreation and outdoor items. For instance, a tax holiday is available on children’s athletic equipment costing $100 or less.

State economists estimate the Freedom Summer holiday to result in $229.9 million in tax savings. The Freedom Summer holiday started in May and will run through September 4.

Similarly, a seven-day “tool time” tax holiday will start September 2, coinciding with the Labor Day weekend. This tax holiday will offer sales-tax exemptions on several types of goods, including tools and work boots. Economists estimate $15.4 million in savings from the “tool time” tax holiday.

Visit the Florida Dept. of Revenue website for full information on the tax relief holidays.

This article originally appeared on ValueWalk

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.