COLUMBUS– Senator Kevin Bacon (R–Minerva Park) today introduced Senate Bill 243 which would establish a weekend each year in which Ohio sales tax would be suspended or reduced for certain retail items. The initiative is commonly known in other states as a “sales tax holiday.”
 
“The retail industry directly or indirectly supports 1 in 4 Ohio jobs, makes up approximately 18% of the state’s GDP, and employs more than one and a half million Ohioans,” said Bacon. “This is an important industry for Ohio and one we should promote.”
 
All told, Ohio families would save approximately $78 million from a sales tax holiday, which provides a direct impact to young families working to properly prepare their children for the pending school year.
 
“Preparing our children properly for the first day of school is one of the foundational blocks to giving them a good education,” added Bacon. “In difficult economic times, Ohio families need every ounce of help we can give them to make sure that first day goes smoothly.”
 
According to the Economics Center at the University of Cincinnati, 18 states had a sales tax holiday in effect in 2012. Most of these states covered similar items seen in Ohio’s proposal such as clothing and school supplies. The same University of Cincinnati study estimated that Ohio retail sales volume would increase by approximately 4.8% during the month of August should a sales tax holiday be implemented.
 
Bacon’s proposal would include a state sales tax suspension on the following items:

  • School Supplies such as pencils, pens, binders, and lunch boxes priced $20 or less,
  • Clothing Items such as denim, sweaters, and jackets priced $100 or less
  • Electronics such as electronic book readers, laptops, and desktop computers priced $750 or less.

Should the proposal be implemented, Ohio would be the 19th state to offer a sales tax holiday behind Alabama, Arkansas, Connecticut, Florida, Georgia, Iowa, Maryland, Massachusetts, Mississippi, Missouri, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas and Virginia.
 
You can read the University of Cincinnati study on a potential Ohio sales tax holiday by clicking here.
 
The bill will be formerly introduced during Tuesday’s session and assigned to a committee for further deliberation in the coming days.

 
 
 
  
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