Oklahoma's annual sals tax holiday is a three day event held in August each year. In Oklahoma, the sales tax will be exempt Aug. 5-7. Sales tax holidays date back to 1980 when Ohio and Michigan offered residents a one-time chance to skip sale tax on automobile purchases, according to the non profit Tax Foundation. The No Tax Weekend began in 2007 when the Oklahoma Legislature passed Senate Bill 861 to benefit both retailers and consumers in the state. The bill has helped local retailers boost sales and the consumer save money. This has become an annual event in more than a dozen states. Retailers are required to participate in the three day sales tax holiday and may not collect sales and use tax on sales of qualified items.
You can save a bundle of taxes if you plan your purchases right. The Oklahoma state sales tax is currently 4.5 percent. Depending on local municipalities, the total tax rate can be as high as 11.5 percent. The tax free weekend is mainly for school supplies. Clothing and footwear priced at less than $100 per item are exempt from sales tax. Items over that amount will be taxed. Clothing refers to all wearing apparel suitable for general use. This does not apply to accessories, special clothing and footwear primarily designed for athletic activity or protective use that is not normally worn.