SC Sales Tax Holiday to Help Small Business

Date: July 26, 2016

South Carolina’s upcoming sales
tax holiday on back-to-school items
such as clothing, school supplies,
computers, and bath towels could provide a much-needed lift to many small
stores and businesses, said Ben Homeyer, state director of the National
Federation of Independent Business. The sales tax holiday is Aug. 5-7.

“It’s been a ho-hum summer for
a lot of small businesses,” Homeyer 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, Homeyer 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,” Homeyer 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 locally-owned
businesses, you’re supporting the businesses that support our schools and
charities and create jobs in our communities,” Homeyer said.

“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,” Homeyer 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 South
Carolina’s sales tax holiday, visit the Department of Revenue’s website at https://dor.sc.gov.

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/SC
or follow @NFIB_SC
on Twitter.

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