CHARLESTON, W.Va. — This upcoming weekend in West Virginia is a sales tax holiday and small business leaders say it’s the perfect opportunity to support those businesses still recovering from the COVID-19 pandemic.
The National Federation of Independent Business (NFIB) state director Gil White told MetroNews says this is a significant event based on what happened last summer. The holiday will officially begin this year at 12 a.m. July 30 and end 11:59 p.m. on August 2.
“We are very blessed that our small business community is still a vital part of West Virginia’s economy and hoping that West Virginians will support and patronize small businesses throughout the state of West Virginia,” he said.
White said the sales tax holiday was held in 2020 through “the formality” but there was not the business or impact that had been seen in previous years.
“Which is to be expected as we were in the midst of the height of the pandemic,” White said of last year. “Given that we are in a better place, we are hopeful we will see a robust small business day for the tax holiday in West Virginia.”
The sales tax holiday includes clothes, school supplies, sporting equipment, and laptops and tablet computers. White said it’s geared towards back-to-school shopping while having an impact on the state’s economy.
The NFIB stated that according to the U.S. Small Business Administration, small businesses account for 98.9% of all businesses in the state, and they employ 49.1% of West Virginia’s workforce.
A study by American Express found that 67 cents of every dollar spent at a small business stays in the community and creates an additional 50 cents in local business activity as employees and owners purchase local goods and services, NFIB release said.
“Small business accounts for almost all of West Virginia’s employers and the small business employs almost half of the state workforce,” White said.
“This is a significant event and has a far-reaching reach throughout the state.”