Tool Time Sales Tax Holiday begins Saturday
Starting this Saturday, Floridians can save some cash when purchasing tools or other home repair and construction items.
From Sept. 3 through Sept. 9, the 2022 Florida Tool Time Sales Tax Holiday will exempt select items from sales tax on retail purchases. Qualifying items include materials commonly used by skilled trade workers, such as power tools, work boots, and toolboxes.
“Florida’s economy has consistently outpaced the nation, but we are still fighting against inflationary policies imposed on us by the Biden administration,” said Gov. Ron DeSantis when he approved the sales tax holiday, along with nine others, in early May. “In Florida, we are going to support our residents and help them afford the goods that they need. Florida has been fiscally responsible, so we are in a good position to provide meaningful relief for families, right now.”
The “Tool Time” holiday is estimated to provide $12.4 million in tax relief.
Exempt items include:
– Toolboxes for vehicles selling for $300 or less
– Power tools selling for $300 or less
– Work boots selling for $175 or less
– Power tool batteries selling for $150 or less
– Handheld pipe cutters, drain opening tools, and plumbing inspection equipment selling for $150 or less
– Industry textbooks and code books selling for $125 or less
– Tool belts selling for $100 or less
– Electrical voltage and testing equipment selling for $100 or less
– Shop lights selling for $100 or less
– Toolboxes selling for $75 or less
– Hand tools selling for $50 or less
– Safety glasses selling for $50 or less per pair (or the equivalent if sold in sets of more than one pair)
– Protective coveralls selling for $50 or less
– Duffle bags or tote bags selling for $50 or less
– LED flashlights selling for $50 or less
– Work gloves selling for $25 or less
Conditions state that if an individual purchases an item that would otherwise qualify for the sales tax exemption, but costs more than the limits listed above, the item is not exempt, and you must pay sales tax on the entire price of the item.
There is no limit on the number of qualifying items that can be purchased tax-exempt.
“This first-ever sales tax exemption will be helpful for everyday homeowners, and it will also significantly benefit construction workers and skilled tradesmen whose livelihood depend on quality tools and reliable equipment,” stated Florida TaxWatch President and CEO, Dominic M. Calabro. “As we deal with the financial hardships resulting from record high inflation, Florida TaxWatch commends Governor DeSantis, President Simpson, Speaker Sprowls, and the entire Florida Legislature for establishing this week-long Labor Day observance to support hard-working Florida taxpayers and help them enhance their homes, businesses, and quality of life.”
The next sales tax holiday comes in October. A one-month Fuel Tax Holiday from Oct. 1 through 31 projects Floridians to save $200 million by lowering the price of gas by 25.3 cents per gallon.
For more information and a full list of qualifying items, visit floridarevenue.com/ToolTime.
-Connect with this reporter on Twitter: @haddad_cj
To reach CJ HADDAD, please email cjhaddad@breezenewspapers.com