Sales Tax Holiday Weekend Aug. 3-5

The annual sales tax holiday in North Carolina is this weekend, beginning Friday, August 3 through Sunday, August 5.  Clothing, school supplies and computers are sold tax free during this time.  According to the NC Public Affairs Office in Raleigh, NC, tax free items are "clothing, footwear and school supplies of $100 or less per item; school instructional materials of $300 or less per item; sports and recreational equipment of $50 or less per item; computers of $3,500 or less per item; and computer supplies of $250 or less per item from sales tax.  Tablet computers and netbooks of $3,500 or less per item qualify, however eReaders do not."  Visit NCDOR's website for a complete list of items that qualify.

The holiday begins at 12:01 a.m. Friday and lasts until 11:59 p.m. Sunday. Participation in the sales tax holiday is required; retailers cannot opt out.

Please call NCDOR's Taxpayer Assistance Division at 1-877-252-3052 with questions.

$28.5 Billion Tax Refund on NC Senate Floor This Week

Small businesses could receive a tax break, if the U.S. Senate can pass the Small Business Jobs and Tax Relief Act, an estimated $28.5 billion tax-refund program that will be on the Senate floor this week.
According to a recent study by Regional Economic Models Inc., the tax cut may create up to 1 million jobs nationwide, including 27,000 in North Carolina. Most of those jobs would be in health care, construction, manufacturing, finance and retail industries, the study says.

Read more about the Small Business Jobs and Tax Relief Act in today's Charlotte Business Journal.