For the second consecutive year, New York State will provide consumers and businesses welcome relief at the register. Beginning April 1, clothing, footwear and related items sold for less than $110 each will be exempt from the state’s 4 percent sales tax.
The tax-free offer – which I helped pass into law – applies to all relevant items purchased in person, over the Internet, by phone or by mail. The qualifying amount for the exemption has doubled since last year, when it applied to apparel at or below $55.
This savings is good news for hardworking families and local businesses – and it can’t come at a better time. While the economy is slowly regaining its strength, working- and middle-class families are still getting back on their feet. The sales tax cut – which will save taxpayers $210 million – will provide much-needed help with clothing and footwear expenses.
The exemption will help working families afford necessities, as well as energize our local economy by giving consumers more incentive to shop. It will also provide businesses with an influx of customers, including shoppers from neighboring states like New Jersey and Pennsylvania.
We are taking a step in the right direction with this sales tax exemption measure, but there is plenty more work to be done. I’ll continue working to ease the financial burden on hardworking families and small businesses.
For more information on the sales tax exemption, visit the New York State Department of Taxation and Finance website at www.tax.ny.gov. As always, if you have any questions about this or any other community issue, feel free to contact my office.