The Tax Foundation did a 2014 study on tax free holidays and concluded that they really don’t lead to a significant boost to affected businesses’ sales.
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According to Bankrate.com, 18 states including Ohio will have sales tax holidays this summer for back to school shoppers.
Select purchases are tax-free.
This year, the Virginia General Assembly decided to combine the three annual sales tax holidays into one that would be scheduled for the beginning of August.
“Consumers are so mobile these days that, you know, if one state does a sales-tax holiday, well, they’re just going to go ahead and drive there and take advantage of that”, she said. Sports equipment, cellphones and computer-related items such as printers also get taxed.
School supplies qualifying as tax-free must cost under $100 each.
Be sure to click on the link above to find what all is eligible and exempt during the 3-day sales tax holiday. For example, if a pair of shoes sells for $105 and you have a manufacturer’s coupon for $10 off, the guidelines say you’ll still have to pay tax.
Hurst said the sales tax holiday is about incentivizing Massachusetts consumers “to spend dollars here on Main Street instead of somewhere else”.
“I’m definitely expecting to get here early”, said Matthew Burress from West Chester, “especially if I want to get a good spot, I’m not trying to park out in the boonies or anything like that”.
More information and specific lists of what is tax exempt can be found on the Florida Department of Revenue website.
The Blount County mom, however, will take to her keyboard to save on additional back-to-school apparel and supplies.
In addition to tax-free savings, Target is also having a major sale on clothes and school electronics allowing shoppers to combine the state savings with the store discounts.
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Gov. Charlie Baker made it official Thursday morning, signing legislation authorizing a sales tax holiday for the weekend of August 15 and 16 on most major purchases in the Bay State.
