MS HB136

Amends Mississippi Code Section 27-65-111 to exempt 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.

School supply exemption applies only to items priced under $100.00 and includes 41 enumerated items such as backpacks, binders, notebooks, pencils, pens, calculators, folders, markers, and textbooks.

Exemption does not apply to accessories including jewelry, handbags, luggage, watches, briefcases, or items like skis, roller blades, and skates.

Allows municipalities to suspend the exemption within their corporate limits by adoption of a resolution, with notice to the Department of Revenue at least 90 days before the suspension takes effect.

Effective date: July 1, 2012.