MS SB2036

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, if the sale price is less than $100.

Defines "school supplies" as 40 specific items commonly used by students in courses of study, including binders, notebooks, pencils, pens, paper, calculators, markers, scissors, glue, folders, erasers, and textbooks.

Exemption applies only to school supplies and clothing/footwear under $100, and excludes accessories like jewelry, handbags, luggage, and certain items worn on the feet.

Permits municipalities to suspend the exemption within their corporate limits by adopting a resolution and notifying the Department of Revenue at least 90 days prior.

Takes effect July 1, 2012.