New York Begins Collecting Sales Tax on Clothing
Wednesday, October 6th, 2010
Many New York shoppers enjoyed an exemption for clothing and shoes that cost less than $110.00 per item.
However, on October 1st, 2010, New York's clothing and shoe exemption will be temporarily put in the closet. New York decided to suspend the exemption on clothing and shoe purchases costing less than $110.00 until spring of 2011.
New York plans to bring the exemption back over a two year period.
The exemption will be reinstated April 1, 2011, but only for purchases less than $55.00.
Things will return to normal on and after April 1, 2012, when the exemption will again apply to items purchased which are less than $110.00.
Retailers don't expect a decline in sales, but would appreciate having the state Legislature impose tax-free periods throughout certain parts of the year, to stimulate sales.
Transaction (buying or selling things), Tax (the tax on this activity), Resources (our people, our website, our support services) - TTR, Inc.
TTR has a website that companies subscribe to and use daily. This website provides a list of everything that can be bought or sold in the U.S. It provides simple answers to whether buying or selling these items is taxable (subject to a sales tax or other tax), and it provides all the legal authority to support these tax answers.
TTR likes to keep things simple and fun, which is why it has great people who provide help to clients on any support questions they have about transaction tax issues.
Please visit TTR on the web at www.ttrus.com or call 866.578.8193.
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