Inside HB 1039: Sales Tax Holiday

From a press release by the Indiana House Democratic Caucus:

INDIANAPOLIS — As part of an ongoing initiative to protect Hoosiers from escalating tax rates, State Rep. Kreg Battles (D-Vincennes) has filed a bill that will provide for an annual two day sales tax holiday beginning on the second Saturday of August.

The provision for the sales tax holiday is contained in House Bill (HB) 1039, of which Battles is a co-author. According to the legislation, any item purchased at a retail price of less than $2,500 would be exempt from the state’s sales tax during the holiday.

Interesting idea!  Although if this came to fruition, it would be fun to see how many $2499.00 sales pop up.  Realistically though, this only amounts to a net savings of $150.00 per $2500.00 purchase.