Got a trip to the mall or out to your favorite local retailer on your planner? Might be time.
New York state’s sales tax exemption on clothing purchases under $110 was fully reinstated yesterday.
From October of 2010 to March of 2011, the exemption was repealed as the state sought to raise an additional $330 million in revenue.
The exemption was phased back in for purchases of less than $55 from April of 2011 to last month.
The state imposes a four percent tax on clothing and footwear that exceeds the exemption limit.