NFIB State Director Jim Brown says the upcoming sales tax holidays on school supplies and food are a good opportunity for people to support local businesses still recovering from the COVID-19 economic downturn.
The sales tax holiday on clothes, school supplies, and computers is July 30-Aug. 1. The sales tax holiday on food, food ingredients, and prepared food is July 30-Aug. 5. Click here to learn more about both tax holidays.
“Tennessee’s economy is stronger than it was a year ago, but it may be months before small, independent businesses get back to where they were before the pandemic,” Brown said. “Small businesses do a lot to help their communities. This is a good opportunity for people to support small businesses.”
Small businesses account for 99.5% of all businesses in the state, and they employ 42.1% of Tennessee’s workforce, according to the U.S. Small Business Administration. A study by American Express found that 67 cents of every dollar spent at a small business stays in the community and creates an additional 50 cents in local business activity as employees and owners purchase local goods and services.