Thursday, August 6, 2015

States Offering Tax-Free Back-to-School Shopping




States Offering Tax-Free Back-to-School Shopping

PHOTO: A tax free sign is seen in this undated file photo.
Gearing up for the start of the school year, more than a dozen states are offering tax-free shopping for parents and their kids.
There are 17 states holding sales tax holidays this year, and 13 begin theirs this weekend to appeal to the back-to-school crowd. 

Shoppers should check for tax-free spending limitations in their state. In Missouri, there's a list of dozens of cities and counties that are choosing not to provide sales tax exemptions on back-to-school purchases like clothing, computers and school supplies. Florida's sale will last more than one week, starting Friday and running through Sunday, Aug. 16.

PHOTO:School supplies displayed on a shelf are seen in this undated file photo.
 
PHOTO:School supplies displayed on a shelf are seen in this undated file photo.
The tax-free holiday can be an opportunity to save 6 to 9 percent, depending on your state, on back-to-school purchases you would be making anyway, Kyle James, founder of Rather-Be-Shopping.com, told ABC News.
"Keep in mind that your biggest savings are going to be on tech needs like laptops, desktops and tablets," James said. 

For example, New Mexico gives you tax breaks on clothing up to $100, computers up to $1,000, computer accessories up to $500 and school supplies up to $30. 

"It’s pretty easy to spend $30 on school supplies making the savings fairly negligible, but when buying clothes and computers, it’s a great weekend to buy and save some money," James said. 

Regina Conway, consumer expert with Slickdeals, told ABC News it's important to make a list before you shop and to do your research online. 

"In some cases, the tax savings may not outweigh the deals you can find during other store promotions," she said. "Pick the essential items that your child will need and do a price search for those items before you head to the store. When in store, do a quick search on your mobile phone before making the purchase to confirm that you're getting the best deal." 

Retailers and other states that aren't participating in the holiday are trying to compete with sellers across state borders. The New York State Tax Department issued a reminder to parents and college students Tuesday that "Every Day is a New York Sales Tax Holiday," because clothing and footwear sold for less than $110 is always exempt from the state's 4 percent sales tax. 

Here's where you can find more information about some of the upcoming sales tax holidays: 

1. Alabama (12:01 a.m. to Sunday)
2. Florida (Friday through Sunday, Aug. 16)
3. Iowa (Friday and Saturday)
4. Louisiana (Friday and Saturday)
5. Maryland (Sunday through Saturday, Aug. 15)
6. Missouri (12:01 a.m. Friday through Sunday)
7. New Mexico (12:01 a.m. Friday through Sunday)
8. Ohio (12:01 a.m. Friday through Sunday)
9. Oklahoma (12:01 a.m. Friday through Sunday)
10. South Carolina (12:01 a.m. Friday through Sunday)
11. Tennessee (12:01 a.m. Friday through Sunday)
12. Texas (Friday through Sunday)
13. Virginia (Friday through Sunday)

Source: http://goo.gl/PJcXJw

0 comments:

Post a Comment

 
Design by Free WordPress Themes | Bloggerized by Lasantha - Premium Blogger Themes | Affiliate Network Reviews