The Florida Retailers Federation has issued a press release stating that they would like a three day weekend in August reserved for Florida’s Back to School Sales Tax Holiday.
The Sales Tax Holiday has a somewhat checkered history in that it was cancelled in 2008 and 2009. However, it was revived in 2010. Retailers are stating the fact that it generated $115 million more in taxable sales than would have been generated without it, according to a study conducted by the Washington Economics Group. Additionally, the study found that there was a $7 million net increase in tax revenue as a result of the Sales Tax Holiday.
It remains to be seen whether these figures will convince Florida legislators to keep the Back to School Sales Tax Holiday in 2011.