Jul 17, 2012

State Tax News

Oklahoma Schedules August Tax Holiday

The Oklahoma Tax Commission reminds taxpayers that the annual sales tax holiday for qualifying clothing and footwear begins this year at 12:01 am on Friday, August 3, 2012 and runs through midnight on Sunday, August 5, 2012. During the three-day holiday period, the sale of any article of clothing or footwear with a sales price of under $100 is exempt from state, county or municipal sales tax.

South Carolina Governor Signs Budget, Provides Teacher Tax Exemption

South Carolina Governor Nikki Haley (R) has signed the fiscal year 2012-2013 budget bill, which contains a personal income tax exemption for teachers who purchase school supplies. The bill provides that all certified, public, and special school teachers and guidance counselors who are employed by a school district or charter school as of November 30 may receive reimbursement of up to $275 each school year. The reimbursement is exempt from state income tax and designed to offset expenses incurred for teaching supplies and materials.

No comments: