Virginia Consolidates Sales Tax Holidays

James Byrnes
April 28, 2015

Virginia holds three sales tax holidays annually. Until this year, the Hurricane Preparedness Holiday took place in May, the School Supplies and Clothing holiday took place in August and the Energy Star and WaterSense holiday took place in October. There has been a lot of debate surrounding sales tax holidays across the country over the past few years. Some states have eliminated them as part of larger tax reform packages (North Carolina), while other states have added them in an effort to compete with neighboring states which offer similar holidays (the Mississippi 2nd Amendment Sales Tax Holiday, the Ohio Back to School Holiday). During the 2015 Virginia General Assembly SB 1319, which consolidates all three Virginia holidays into a single three day period in August, was enacted into law. This holiday is scheduled to take place from August 7th through August 9th of this year.

SB 1319 was signed into law by the Governor in March; however the effective date of the legislation is not until July 1, 2015. The Virginia Department of Revenue confirmed shortly after the passage of SB 1319 that the Hurricane Preparedness Holiday will take place this May 25th through May 31st as it has in previous years, because the legislation (which will effectively sunset all of the sales tax holidays and create a new consolidated sales tax holiday) will not be effective prior to the previously scheduled occurrence of the annual holiday. This means Virginia residents will receive two opportunities in 2015 to stock up tax-free on products such as chain saws, lanterns, batteries and bottled water as hurricane preparedness items will also be exempt during the three day consolidated holiday taking place in August.  Sovos Compliance provides comprehensive support for all sales tax holidays, ensuring that your business remains compliant in this evolving area of indirect taxation.

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

Author

James Byrnes

Share this post

North America
June 6, 2024
Observations and Predictions: The Future of Tax and Compliance

When I became the CEO of Sovos one year ago, I knew that I was stepping into an innovative company in an industry primed for a seismic transformation. However, even with this knowledge in place, I must admit that the speed and scope of change over the past year has been extraordinary to witness. Here […]

EMEA IPT
July 18, 2024
The Impact of Climate-Related Events on Insurance Premium Tax (IPT)

Climate related events impact all industries; the insurance industry is no exception. Here’s how it’s affecting Insurance Premium Tax.

EMEA IPT
July 8, 2024
Hungary Insurance Premium Tax (IPT): An Overview

Regarding calculating Insurance Premium Tax (IPT), Hungary is the only country in the EU where the regime uses the so-called sliding scale rate model.

North America ShipCompliant
July 3, 2024
The Prospects and Perils of AI in Beverage Alcohol

I recently had the privilege of speaking on a panel at the National Conference of State Liquor Administrators (NCSLA) Annual Conference, a regular meeting of regulators, attorneys and other members of the beverage alcohol industry to discuss important issues affecting our trade. Alongside Claire Mitchell, of Stoel Rives, and Erlinda Doherty, of Vinicola Consulting, and […]

North America ShipCompliant
June 27, 2024
Shifting Focus: How to Make Wine Country Interesting to Millennials

Guest blog written by Susan DeMatei, President, WineGlass Marketing WineGlass Marketing recently conducted a study to explore how Millennials and Gen X feel about wine, wine culture and wine country. The goal was to gain insight into how we can make wine, wine club and wine country appealing to these new audiences. We’ll showcase in-depth […]

North America Sales & Use Tax
June 24, 2024
Illinois to Adjust Sales Tax Nexus Rules in Light of PetMeds Threat

Illinois is poised to change their sourcing rules again, trying to find their way in a world where states apply their sales tax compliance requirements equally to both in-state and remote sellers. With this tweak, they will effectively equalize the responsibilities of remote sellers with no in-state presence, to those that have an Illinois location. […]