MS HB127

Exempts retail sales of school supplies from sales taxation during a period beginning at 12:01 a.m. on the first Friday in August and ending at 12:00 midnight the following Saturday, provided the sales price is less than $100.00 per item.

Defines "school supplies" to include 42 specific items commonly used by students, including backpacks, binders, calculators, pencils, pens, notebooks, paper, markers, crayons, folders, glue, scissors, textbooks, and workbooks.

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, 2020.

Amends Section 27-65-111 of the Mississippi Code of 1972 by adding this exemption as subsection (uu) to existing sales tax exemption provisions.

Takes effect July 1, 2019.