Gobbling Up Sales: The Economic Impact Of Thanksgiving And The Start Of Holiday Shopping

TALLAHASSEE, Fla. - Thanksgiving for most people often invokes images of family gatherings, turkey, and football. But for retailers, it invokes images of large crowds of shoppers and dollar signs. Thanksgiving, Black Friday, and Cyber Monday are cash cows for businesses, particularly the retail and food industries. Those days are also important for Florida, as the state will collect a six percent sales and use tax on most of the goods purchased by shoppers, except for most grocery items.

To help Floridians understand what is taxed and not taxed during the holiday season, Florida TaxWatch has provided this guide which can be viewed here.

“Understanding Florida’s tax laws can be very difficult for Florida shoppers, so Florida TaxWatch is helping taxpayers understand their tax obligations and get a better sense of where their hard earned-money is going this Thanksgiving,” said Dominic M. Calabro, President and CEO of Florida TaxWatch.