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Barbara Weltman

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Prepare Now for Upcoming Sales Tax Holidays

March 20, 2020 / By Barbara Weltman

Your state may offer sales tax holidays at set times for specific items. Some sales tax holidays relate to bad weather preparation, back-to-school purposes, or energy-saving purchases (all of which may help boost sales after the coronavirus subsides). Perhaps there will be one related to the coronavirus? The CPA Practice Advisor has a list of sales tax holidays for 2020. Note: New Mexico is planning a small business (no more than 10 employees) sales tax holiday that would exempt items costing less than $500, but no date has yet been announced.

Alert: Follow coronavirus-related federal tax changes through the IRS’ Coronavirus Tax Relief center.

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Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

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