Oklahoma’s
upcoming sales
tax holiday on back-to-school items such as clothes and shoes could provide
a much-needed lift to many small stores and businesses, said Jerrod Shouse,
state director of the National Federation of Independent Business. The sales
tax holiday is Aug. 5-7.
“It’s been a lackluster summer
for a lot of small businesses,” Shouse said. “The sales-tax holiday should help
people get fired up and in the mood to spend.”
The latest NFIB Small
Business Optimism Index, released July 12, shows that small-business
confidence improved by only a fraction of one percent in June.
“Small businesses are in
maintenance mode,” said NFIB Chief Economist Bill Dunkelberg. “Uncertainty is
high, expectations for better business conditions are low, and future business
investments look weak.”
That’s where the sales-tax
holiday comes in, Shouse said. Parents would go back-to-school shopping
regardless, he said, but the tax holiday could also attract cash-strapped
shoppers who have delayed purchases.
“And people need to remember
that the tax holiday applies to Main Street as well as the mall,” Shouse said.
“Even if you don’t need school clothes, you can save money shopping during the
sales-tax holiday, and you can find some great deals and unique merchandise by shopping
small.
“When you shop at small,
locally-owned businesses, you’re helping your friends and neighbors,” Shouse
said. “You’re supporting the businesses that support our schools and charities
and create jobs in our communities.
“Combined with the back-to-school
sales a lot of stores are having, the sales-tax holiday is going to help people
get a bigger bang for their buck,” Shouse said. “The more we can do to
encourage people to shop at small businesses, the more jobs we’ll save, and the
faster our economy will grow.”
To learn more about Oklahoma’s
sales tax holiday, visit the Department of Revenue’s website at https://www.ok.gov/triton/modules/newsroom/newsroom_article.php?id=257&article_id=23203.
NFIB is the state’s leading
small-business association, representing a cross-section of the state’s
economy. For more information, visit www.NFIB.com/OK
or follow @NFIB_OK
on Twitter.
