MS HB294

Exempts retail sales of school supplies from sales tax if the sales price is less than $50.00 and the sale occurs during the period beginning at 12:01 a.m. on the last Friday in July and ending at 12:00 midnight the following Saturday.

Defines "school supplies" to include 41 specific items commonly used by students, including backpacks, binders, calculators, pencils, pens, paper, notebooks, folders, markers, crayons, and textbooks.

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 January 1, 2017.

Amends Section 27-65-111 of the Mississippi Code of 1972 to add this exemption as subsection (uu).

Takes effect July 1, 2016.