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Louisiana
Small Business Tax Holiday 2012 |
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 The
state of Louisiana is implementing a tax holiday in an
effort to help small businesses. The 2012 holiday
begins at 12:01 a.m. on Friday, August 3, and continues
through 11:59 p.m. on Saturday, August 4.
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The Louisiana Sales Tax Holiday provides an exemption from
state sales tax on the first $2,500 of the purchase price of
most individual items of tangible personal property for
non-business use. The state sales tax is payable on the
portion of the purchase price of any individual item in
excess of $2,500. |
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The holiday will apply to the 4
percent state sales tax, but will not apply to the sales
taxes levied by parishes, municipalities, school boards, and
other political subdivisions of the state. |
The following rules apply:
- The exemption is allowed on
both inputs to and withdrawals from layaway.
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Purchases during the holiday with “rain checks” issued
before the three-day holiday are eligible for exemption, but
purchases after the holiday with “rain checks” issued during
the holiday are not eligible for exemption.
- Orders
for immediate shipment are eligible for exemption even if
the shipment is after the holiday, provided that the
customer does not request delayed shipment.
- The
post-holiday exchange of merchandise to effectuate changes
in size, color, or correction of defects does not create a
tax liability, but exchanges after the holiday for
dissimilar items will be considered the purchase of new
property on which the sales tax will be payable.
- Items
that are normally sold as a unit, such as dining tables and
chairs, cannot be individually priced for the purpose of
creating a separate eligibility cap for each individual
item.
- For a 60-day period after the
holiday, dealers who issue refund or credit for the return
of merchandise that was eligible for sales tax exemption
during the holiday can issue refund or credit for the state
sales tax on that returned merchandise only if the customers
returning the property have receipts showing that the tax
was actually paid on the original purchases, or the dealers
are otherwise able to document that the state sales tax was
paid on the original purchases. |
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For more details onthe program you
can visit the
Louisiana Department of Revenue. |
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Sources:
Louisiana Department of Revenue
By
Tim Miller
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