Tennesseans can expect to enjoy three tax holidays over the next several months, according to the state’s Department of Revenue (DOR).
Annually, Tennessee holds a sales tax holiday for the month of July, letting them off the hook for state and local sales taxes, which can be up to 10 percent.
But August, too, will have a tax holiday this year. That holiday will cut taxes on food and food ingredients from the first of the month until the last day of the month.
“During this month-long holiday, food and food ingredients may be purchased tax-free. Food and food ingredients purchased from a micro market or vending machine remain subject to sales tax,” DOR said. “Food ingredients do not include alcoholic beverages, tobacco, candy, dietary supplements, and prepared food.”
Additionally, the state is having a year-long sales tax holiday on gun safes and gun safety equipment. That holiday began on July 1, and will run through June 30, 2023.
“The legislature extended this holiday an additional fiscal year,” DOR said. “During this period, retail sales of gun safes and certain gun safety devices are exempt from sales and use tax.”
Gun theft, particularly from vehicles in Nashville, is an ongoing challenge in Tennessee.
“So far this year, 711 guns have been stolen from vehicles in Nashville. Nearly 70% of ALL guns reported stolen in 2022 (1,025) were taken from vehicles. Last week, 16 guns were stolen from cars and trucks,” the Metro Nashville Police Department (MNPD) said last week.
“MNPD’s continuing Park Smart message is to urge motorists to lock their automobile doors, secure any valuables – especially guns – and remove the keys,” MNPD spokeswoman Kristin Mumford told The Tennessee Star.
Dropping the sales tax on gun safes and other safety measures may help Tennessee’s gun owners more effectively secure their weapons.
Gov. Bill Lee (R) says the tax holidays are meant to combat skyrocketing inflation under President Joe Biden’s administration.
“During this time of record inflation and high prices, we’re proud to be able to put money back in the pockets of Tennesseans,” said Lee. “I encourage everyone to take advantage of these savings opportunities.”
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Pete D’Abrosca is a reporter at The Tennessee Star and The Star News Network. Email tips to [email protected].
Photo “Firearm Store” by Francisco Anzola CC2.0.
