Thursday, September 23, 2010

Tax-Exempt Clothing in NYC Ends September 30, 2010

Just a friendly reminder to all you NYC readers, the tax exemption on clothing and footwear purchases under $110 ends September 30, 2010. On October 1 the tax will be 4% for purchases under $110 and it is my understanding that anything above that amount will be the full tax of 8.875%. Lawmakers have gone back and forth on this in the five boroughs over the years, taking the tax away, then reinstating it for a time, then repealing it again, and apparently this trend will continue. I read online that there will be a tax exemption for clothing and footwear under $55 starting April 1, 2011 and going until March 31, 2012, with the original tax exemption for purchases under $110 to be reinstated after that date.

Oy vey.

So if you want, say, the above J. Crew boyfriend plaid cardigan, which sells for $88, try to buy before October 1 to save yourself a little cash!

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