Floridians – Wait til July 1 to buy that kayak

Floridians, you might want to wait until July 1 to buy that kayak, new grill, or Broadway series pass. The state of Florida has a new sales tax holiday to encourage us to a) get outside and b) get back to sharing space with strangers.

The holiday lasts from July 1 to July 7, 2021. Depending on the county in which you live, that could mean a 6% to 8% savings.

Two Exemption Categories

The savings cover two main categories: a) outdoor activity supplies and b) events. “Outdoor activity supplies” include everything from bug spray to gas grills (the first $500 – sorry, gourmet grillers). Reading the list of exempted items makes me want to spend the rest of the summer in the water (many of these do have limits ranging from $500 down to $10): canoes and kayaks, water skis and wakeboards, paddleboards and surfboards, coolers, goggles, snorkels, masks, hydration packs, sunglasses, sunscreen, rods and reels, as well as bait and tackle.

For woodsy type landlubbers, exempt (also with limits) are binoculars, bicycles, bug spray, camping supplies (stoves, tents, collapsible chairs, lanterns, flashlights, sleeping bags), and outdoor gas or charcoal grills. (Gee, this also reads like my hurricane preparedness list.)

Events and Annual Passes

For even more fun, “events” include tickets to any concert, movie, game, fair, festival, cultural event, or gym with attendance dates through December 31, 2021.

Events also include annual passes to museums, state parks (which I didn’t know they charged sales tax on in the first place?), and theaters. Despite their property-tax-free status, Disney does not count as a state park.

No limits on the cost for the passes. So if you’re considering venturing out for the Broadway series, purchasing the pass between July 1 and July 7 might save you enough to cover dinners before the shows.

For a complete description, see the state of Florida’s TIP sheet at:https://floridarevenue.com/taxes/tips/Documents/TIP_21A01-05.pdf

How will you take advantage of the sales tax holiday??

Holly Donaldson

Holly P. Donaldson, CFP® writes and consults on the psychology of money. Her fee-only, product-free financial planning practice focuses on increasing financial self-efficacy for those seeking a financial navigator to help them make good decisions. She is the author of The Mindful Money Mentality: How to Find Balance in Your Financial Future (Porchview Publishing, 2013) and publisher of the award-winning monthly e-letter, "The View From the Porch." With a fully virtual practice in Seminole, Florida, she primarily serves clients located in the Tampa, St. Petersburg, and Clearwater areas. Holly will also work with clients who are a good fit located elsewhere in the United States.

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