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FOR IMMEDIATE RELEASE
PR- 238-03
August 27, 2003

MAYOR MICHAEL R. BLOOMBERG AND FINANCE COMMISSIONER MARTHA STARK ENCOURAGE NEW YORKERS TO TAKE ADVANTAGE OF CLOTHING SALES TAX HOLIDAY FOR BACK-TO-SCHOOL AND BACK-TO-WORK SHOPPING

Week Long Sales Tax Holiday on Clothing and Footwear Costing Less than $110

Mayor Michael R. Bloomberg, Department of Finance Commissioner Martha Stark and Councilmember Helen Sears today encouraged New Yorkers to take advantage of the sales tax holiday on clothing and footwear costing less than $110 for back-to school and back-to-work shopping.  The sales tax holiday began on Tuesday, August 26th and runs through Monday, September 1st. The sales tax on clothing and footwear under $110 is scheduled to sunset on June 1st, 2004, and the .375 % temporary increase in the sales tax will sunset June 1st, 2005.  The Mayor made the announcement at the Sears at the Rego Park Mall in Queens.

“I am very pleased that we are able to roll back our share of the sales tax to give New Yorkers a break with their back-to-school and back-to-work shopping,” said Mayor Bloomberg.  “I encourage everyone to take advantage of additional discounts which apply to clothing, shoes and even school uniforms.   I am also pleased that the entire sales tax on clothing and footwear will sunset at the beginning of June, 2004.”

“The sales tax exemption is a terrific boost for parents and all New Yorkers on the eve of a new school year, and a boon to businesses as well,” Commissioner Martha E. Stark said. “I hope everyone takes advantage of this wonderful opportunity.”

“I’d like to take this opportunity to thank the Mayor for coming out to Queens and visiting Rego Park Mall during tax-free week,” said Councilmember Helen Sears. “During a struggling economy, it is important to have incentives like this to stimulate small and large businesses alike. The Mayor understands this and the City Council understands this and that is why we worked together to make sure this happened. With school starting right around the corner, this is a perfect opportunity for parents throughout the City to go shopping for their children.”

Previous sales tax free weeks on clothing have increased retail sales by more than 70%. The exemption applies to all adult and child clothing and footwear, fabrics, thread and yarn, neckties, scarves, hats and sports uniforms.  The exemption does not include jewelry, watches, handbags, umbrellas or sports equipment. For a complete list of exempt and non-exempt items visit www.tax.state.ny.us/PDF/memos/Sales/M03_4s.PDF.  The next clothing sales tax holiday will be January 26th through February 1st, 2004.







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