OKLAHOMA CITY (AP) - Shoppers and merchants are preparing for Oklahoma's annual sales tax holiday on back-to-school clothing and shoes.
The three-day event begins Friday and ends Sunday as thousands of students prepare to return to the classroom for a new school year. Shoes and clothing costing less than $100 are exempt from state, city, county and local sales taxes during the holiday.
But a research group says the tax benefits of the event are minimal. The Institute on Taxation and Economic Policy says that while shoppers can buy some items tax-free, it does nothing to provide relief to low- and moderate-income taxpayers throughout the remainder of the year.
The group says greater tax fairness would be achieved with a permanent refundable low-income sales tax credit to offset the impact of sales taxes.
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