Louisiana is close to establishing a new sales tax holiday for Nov. 20-21 of this year — the Friday and Saturday before Thanksgiving.
If approved, the tax holiday will give patrons a sales tax break on purchases up to $2,500 during those two days. The tax holiday does not apply to vehicle purchases or restaurant meals. A fiscal analysis shows that the holiday is projected to cost Louisiana $4.5 million in tax revenue.
House Speaker Clay Schexnayder, R-Gonzales, sponsored the legislation that creates the tax break to help families suffering during the COVID-19 crisis and after two hurricanes hit the southwestern portion of the state.
The House and the Senate have both passed a version of Schexnayder’s bill, and a compromise is expected within the next week. Gov. John Bel Edwards would also have to approve the tax break.
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