It’s that time of year when several states have their sales tax-free holiday weekend. This coming weekend many states — Florida, Louisiana, Missouri, and Virginia — will waive sales tax rates for purchases on certain items. For the vast majority of states, the 2014 holiday will happen August 1-3. Connecticut, Massachusetts, Maryland, and Texas will host their sales tax-free holiday in mid-August.
The idea behind alleviating the state sales taxes for a few days started making back-to-school shopping a bit more affordable, giving buyers a break on the cost of school supplies, clothes, footwear, and other items needed. In a lot of cases, the holiday has expanded to include several other items on the list, such as computers, printers, and software. Each state has its own set of guidelines specifically laid out with price restrictions per category and what the exclusions are.
Forbes has a list of which states are participating in the tax-free holiday weekend for 2014. To find out if you state participates in the annual event, be sure to check your state’s Department of Revenue site.
Alabama, August 1-2 (4% sales tax rate); Arkansas, August 2-3 (6% sales tax rate); Connecticut, August 17-23 (6.35% sales tax rate); Florida, August 1-3 (6% sales tax rate); Georgia, August 1-2 (4% sales tax); Iowa, August 1-2 (6% sales tax rate); Louisiana, August 1-2 (sales tax rate 4%); Maryland, August 10-16 (6% sales tax rate); Massachusetts, likely on August 16-17 (6.25% sales tax rate); Missouri, August 1-3 (sales tax rate 4.225%); New Mexico, August 1-3 (5.125% sales tax rate); Oklahoma, August 1-3 (4.5% sales tax rate); South Carolina, August 1-3 (6% sales tax rate); Tennessee, August 1-3 (7% sales tax rate); Texas, August 8-10 (6.25% sales tax rate); Virginia, August 1-3 (4% sales tax rate).
Mississippi just held its tax-free holiday at the end of July. Massachusetts might have their holiday on August 16-17, but the event could also be on August 9-10.
To get a list of what items are eligible in addition to exclusions and price restrictions, visit Offers.com. The site explains everything in details for the states mentioned above regarding dollar amount limits and specific clothing, footwear, uniforms, computers, software, and school supplies. If you plan on using coupons, see if that option is valid during the sales tax-free weekend.
The tax-free holiday weekend began with New York in 1997 and a number of other states followed suit with the tradition. Shoppers are able to get amazing discounts and excellent deals on athletic shoes, clothing, and big purchases like computers and printers. This is the time of year to take advantage of those important buys.
[Image via ScottThor.com]