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Monday, August 17, 2015

Don't Fall for Back to School Tax Holidays

They’re basically worthless.

It’s back-to-school shopping season, and you know what that means: a chance to do some tax-free shopping, picking up No. 2 pencils and new fall clothes at bargain prices.

Wait, you don’t know what I’m talking about? That might be because you don’t live in one of the 18 states that offer shoppers a brief break on their sales tax bill, in many cases this month. The majority of these deals are pitched as a way to help parents stock up on clothes and school supplies for their kids. “If your little ones need some new clothes for school or you want to update your wardrobe, now is the time in Maryland,” proclaimed one local newscast earlier this week, where clothes and shoes under $100 are tax-free through this Saturday. In a recent online survey conducted by Alabama’s Press-Register, consumers said their favorite discount offered over the state’s tax holiday, which took place last weekend, was the temporary break on clothing, followed by electronics. In Georgia a television station had a useful reminder for parents: “If you’re looking ahead to Halloween, know that costumes are tax-free but individual masks are not.”

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1 comment:

Anonymous said...

This assumes that you are buying name brand items. If you are buying Walmart brand polos and khakis, take the 5% tax break and run!