Business Notebook

Sales tax exemption coming soon

This year’s popular sales tax holiday weekend is set for Aug. 7-9, the state tax agency said Tuesday.

Shoppers who make authorized back-to-school purchases will be exempt from the state’s 6 percent sales tax and any applicable local taxes.

The Department of Revenue estimates shoppers will save about $3 million during the tax-holiday weekend.

BUSINESS BRIEFLY

▪  Greenville will gain a 70,000-square-foot expansion and 50 new jobs from global consulting, design and construction firm CH2M’s upcoming expansion.

▪  Citigroup will refund $700 million to consumers and will pay $70 million in fines for illegal and deceptive credit card practices, the bank and federal regulators say.

▪  Toshiba’s CEO and eight other executives resign, taking responsibility for doctored books that inflated profits at the Japanese technology manufacturer by $1.2 billion over several years.

▪  Businesses big and small would get to keep claiming dozens of tax breaks that expired at the start of the year under a bill that overwhelmingly passed the Senate Finance Committee on Tuesday. Struggling homeowners and people who live in states without a state income tax would get to keep their tax breaks, too.

From Staff and Wire Reports.