Iowa Sales Tax Holiday 2013 Starts Friday: Today in Cedar Falls

Iowa's sales tax holiday is this weekend -- from one minute after midnight Friday through midnight Saturday. Are you ready to hit the stores with the kids?

For those not in the know, the tax-free holiday means no sales tax on all the essential clothing and footwear you might need for back-to-school.

The tax-free holiday starts at 12:01 a.m. Friday, Aug. 2, and runs through midnight on Saturday, Aug. 3. No sales tax will be collected on clothing or footwear sold for less than $100 per item.

All businesses open on Aug. 2 and 3 are required to participate, though the holiday does not extend to Sunday.

The sales tax exemption doesn't include: watches, watchbands, jewelry, umbrellas, handkerchiefs, sporting equipment, skis, swim fins, roller blades, skates, and any special clothing or footwear designed primarily for athletic activity or protective use and not usually considered appropriate for everyday wear, says KCCI.com.

Sadly backpacks, a staple of back-to-school, are taxable, as are book bags.

The Iowa Department of Revenue says that if any item bought on the sales tax holiday is exchanged later, the buyer will not have to pay taxes on the new item.