Merchants say a back-to-school sales tax "holiday" signed into law by Gov. Rick Scott will boost the state's treasury as well as their businesses.
Rick McAllister, president and CEO of the Florida Retail Federation said Wednesday that he expects state revenues to increase based on a study of a similar three-day tax holiday last year.
Scott signed the legislation into law on Tuesday.
From Aug. 12 through 14, no sales tax will be charged for clothing items priced up to $75 and school supplies up to $15.
That's expected to reduce state tax revenues by $25.6 million.
The study, though, showed the state collected an extra $7 million in tax revenue because consumers attracted to stores by the tax break also spent more on taxable items during those three days.