FOR IMMEDIATE RELEASE
January 27, 2004
MAYOR MICHAEL R. BLOOMBERG TAKES ADVANTAGE OF SALES TAX-FREE WEEK
Clothing and Footwear Under $110 Exempt from Sales Tax January 26th through February 1st
Mayor Michael R. Bloomberg, Department of Finance (DOF) Commissioner Martha Stark, Department of Small Business Services (SBS) Commissioner Robert Walsh and Commissioner of the Office of Immigrant Affairs Sayu Bhojwani took advantage of sales tax-free week at Macy's at the Queens Center Mall today, urging shoppers to take advantage of the 8.625% savings on clothing and footwear under $110. The sales tax on clothing and footwear under $110 is scheduled to end on June 1, 2004, and the .375 % temporary increase in the sales tax will end June 1, 2005.
"This second week-long sales tax holiday is a great opportunity for New Yorkers to save money while invigorating New York's retail community," said Mayor Bloomberg. "Now's the time to buy another warm sweater or pair of boots - just in time for the next snow storm."
"We want New Yorkers in every neighborhood to take advantage," said Commissioner Stark. "To spread the word, the City has translated and distributed flyers to businesses in Spanish, Chinese, Russian and Korean."
"Small businesses are the backbone of our City's economy," said Commissioner Walsh. "Businesses in neighborhoods across the five boroughs will benefit greatly from Sales Tax-Free week, and I encourage consumers to take advantage of this week's fantastic deals."
"Immigrants - as business owners and customers - can greatly benefit from tax-free week," said Commissioner Bhojwani. "Flyers in multiple languages will help spread the word in the City's diverse communities."
During the sales tax-free week, clothing and footwear under $110 will be exempt from New York's 8.625% sales tax. Items covered by the exemption include clothing, footwear, ties and scarves, hats, athletic clothing and diapers. Items not covered include jewelry and watches, handbags and umbrellas, rented clothing, and sports equipment. Previous sales tax-free weeks on clothing have increased retail sales by more than 70%.
New Yorkers saved $23.5 million in taxes during the last sales tax-free week in August and are expected to save the same amount after during this tax-free week. New Yorkers should visit the State Department of Taxation and Finance's website at www.tax.state.ny.us or call 311 for more detailed information on how the program works.
Edward Skyler / Jordan Barowitz (212) 788-2958
Sam Miller / Rob Roman (DOF)
Ethan Davidson (SBS)