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 1 August 2012


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Louisiana Small Business Tax Holiday 2012

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.

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.

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.

- 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.
For more details onthe program you can visit the Louisiana Department of Revenue.

Louisiana Department of Revenue

By Tim Miller










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