Archives for : June 2015

Tax Free Week in Connecticut 2015

Tax Free Week in Connecticut 2015

Note: Connecticut’s 2015 tax free shopping dates have not been released yet. However, based on last year’s dates (shown below), it is likely thatConnecticut’s tax free holiday will occur in August 2015. This page will be updated once those dates are officially confirmed on Connecticut’s web site. Tax Free Week in Connecticut 2015

The state of Connecticut is offering a tax free week during August 2015. It applies mainly to clothing and shoes and is intended to coincide with parents’ seasonal back-to-school shopping needs.

By planning ahead, you can help your family save even more money by shopping during Connecticut’s tax free week.

Connecticut’s Tax Free Week:

Connecticut’s sales tax holiday is scheduled for August 16-22, 2015. During Connecticut’s tax free week, the following items will not be subject to state sales tax:

  • Clothing under $300 per item
  • Shoes under $300 per item

Smart Shopping Strategies for Connecticut’s Tax Free Week:

Connecticut’s tax free week is a great opportunity to save on your kids’ back-to-school shopping needs. However, it’s also important to remember that using good common sense is the best way to save even more more during tax free week. This means comparing prices at different stores, which you can do online, and also using coupons when you can.

In addition, don’t buy anything you don’t really need just because of tax free week. After all, the sales tax rate in Connecticut is 6.35%, so that amount – plus any local sales tax, if applicable – is the amount that you would be saving during tax free week.

It’s entirely possible that you’ll be able to find even better sales either before or after Connecticut’s tax free week savings event, so be sure to shop around and pay attention to the sales and promotions that are going on in your area.

2015 Arkansas Sales Tax Holiday

2015 Arkansas Sales Tax Holiday

Beginning at 12:01 a.m. on Saturday August 1, 2015, and ending at 11:59 p.m. on Sunday August 2, 2015, the State of Arkansas will hold its sales tax holiday allowing shoppers the opportunity to purchase certain School Supplies, School Art Supplies, School Instructional Materials, and clothing free of state and local sales or use tax. 2015 Arkansas Sales Tax Holiday details below:

All retailers are required to participate and may not charge tax on items that are legally tax-exempt during the Sales Tax Holiday.

2015 Arkansas Sales Tax Holiday is officially August 1st, 2015.

2015 ARKANSAS SALES TAX HOLIDAY

Arkansas will hold its annual sales tax holiday, beginning Saturday, August 1, 2015 at 12:01 a.m. and ending Sunday, August 2, 2015 at 11:59 p.m. State and local sales tax will not be collected during this 48-hour period on the sale of:

(1) Clothing and footwear if the sales price is less than one hundred dollars ($100) per item;

(2) Clothing accessories and equipment if the sales price is less than fifty dollars ($50) per item;

(3) School supplies;

(4) School art supplies; and

(5) School instructional materials.

 

For more information, contact a customer service representative by phone Monday through Friday from 8:00 a.m. to 4:30 p.m. at (501) 682-7104.

Texas Tax Free Weekend 2015

Texas Tax Free Weekend 2015

In 2015, Texas shoppers get a break from state and local sales taxes on Aug. 8 – 10 — the state’s annual tax holiday. As in previous years, the law exempts most clothing, footwear, school supplies and backpacks priced under $100 from sales and use taxes, which could save shoppers about $8 on every $100 they spend.Texas Tax Free Weekend 2015 starts August 8th, 2015.

The dates for the sales tax holiday are set by the Legislature.

Subject to the criteria explained below, all sales of qualifying items made during the holiday period qualify for the exemption, including items sold online, or by telephone or mail. Lay-away plans can be used again this year to take advantage of the sales tax holiday. Texas Tax Free Weekend 2015.

421a tax abatement

421a tax abatement

Tax Incentives: 421-a

421-a Partial tax exemption for NEW MULTIPLE DWELLINGS
ELIGIBLE PROJECTS New construction of MULTIPLE DWELLINGS on lots which were vacant, predominantly vacant or improved with a non-conforming use three years prior to the start of construction. Buildings in the EXCLUSION AREA are not eligible unless they receive governmental assistance, contain 20% affordable units, or the owner participates in the 421-a Affordable Housing Production Program.
EXCLUSION AREAS Generally, buildings within these areas must meet additional affordable housing requirements.
BENEFITS GRANTED Construction period exemption (up to 3 years) plus 10-year (2 years full + 8 years phase out), 15-year (11 years full + 4 years phase out), 20-year (12 years full + 8 years phase out), or 25-year (21 years full + 4 years phase out) post-construction exemption from the increase in real estate taxes resulting from the work.
The longer exemption periods apply in northern Manhattan, the other boroughs, other designated areas, and to projects that receive governmental assistance or contain 20% affordable units.
All rental units become subject to rent stabilization for the duration of the benefits, with initial rents set by the Tax Incentive Programs (TIP).
PROCEDURAL REQUIREMENTS The developer applies to TIP and receives a Certificate of Eligibility. The Department of Finance implements the benefits. Benefits may be applied for once construction begins.
NOTICES NOTICE OF ADOPTION OF RULES GOVERNING TAX EXEMPTION UNDER §421-a OF THE REAL PROPERTY TAX LAW OF THE STATE OF NEW YORK
HOW TO APPLY Obtain additional information and request an application by calling (212) 863-8540 or download the following forms, which are available in PDF format.

  • 421-a Online Application
  • 421-a Online Application FAQ (in PDF)
  • 421-a Paper Application Forms (in PDF)
  • Frequently Asked Questions about the 421-a Program (in PDF)
  • Professional Certification of Plans for Applications Under 421-a Partial Tax Exemption Program (in PDF)
  • Architect’s/Engineer’s Certification of the Aggregate Floor Area, Dwelling Units & Room Count (in PDF)
  • 421-a Application forms for Final Certificate of Eligibility (in PDF)

Submit completed application to: 421-a Program, Tax Incentive Programs, Room 8-C09, HPD, 100 Gold Street, New York, NY 10038. There is a $100 application fee.
Summary of office hours:
Walk-in hours: Mondays and Wednesdays 10:00am-12:00pm and 1:00pm-3:00pm
Appointments: Tuesdays and Thursdays 9:00am-12:00pm and 1:00pm-4:00pm
No walk-ins or appointments on Fridays. Customers may still call customer service at (212) 863-8540 or for help on the online application, please call at (212) 863-5760.

MORE INFO 421-a Legislation Overview and FAQ 
Map of Geographic Exclusion Area
Note:
All of Manhattan is within the GEA421-a Geographic Exclusion Area (GEA) effective July 1, 2008 

  • Brooklyn Part I
  • Brooklyn Part II
  • Bronx
  • Manhattan
  • Queens
  • Staten Island

NEW FEATURE: New 421-a Rent Calculator (Excel Spreadsheet)

NEW  Rental and Homeownership Affordability Calculators (Excel spreadsheet)
Please visit the following links on NYC Department of Finance webpage for additional information regarding which properties are receiving 421aand to look up a specific property or apartment to find information regarding its benefit start and end dates, current benefit year, and benefit amount.