MS HB112

Exempts retail sales of school supplies from sales tax during a period beginning at 12:01 a.m. on the last Friday in July and ending at 12:00 midnight the following Saturday, provided the sales price is less than $100.

Defines "school supplies" with an all-inclusive list of 41 items including backpacks, binders, calculators, pencils, pens, notebooks, paper, textbooks, and other commonly used classroom materials.

Exemption applies only to school supplies and clothing/footwear items under $100; excludes accessories such as jewelry, handbags, luggage, watches, and certain footwear items like skis and roller blades.

Allows municipalities to suspend the application of this exemption within their corporate limits by adopting a resolution and providing notice to the Department of Revenue at least 90 days in advance.

Effective July 1, 2011.