If you plan to shop in the Lone Star State within the next few days, the Texas Tax-Free Weekend is August 8-10, 2014. The state’s 6.25% sales tax will be exempt from several purchases made by shoppers for three days — just in time for back-to-school buys.
The tax exemption will go towards certain outfits and gear as well.
Connect Amarillo lists in general what’s eligible and price restrictions. For example, clothing, footwear, school supplies, and backpacks amounting to under $100 are eligible to get tax-free. This equals an $8 savings on every $100 spent on items.
If you purchase a three pairs of shoes for $50, the total of $150 is still eligible because each pair alone is under the $100 limit. If an outfit is $120, the first $100 won’t be tax-free. The single item must to be priced under $100.
When it comes to school supplies, the Texas tax-free holiday applies to just about everything. This includes, notebooks, pencils, highlighters, rulers, paper, folders, notepads, uniforms, and other items needed for school. The main caveat is no charging to business accounts for school supplies.
Backpacks are also eligible, but they must be a regular backpacks without wheels. Luggage, computer bags, briefcases, gym bags, athletic bags, purses, and anything other than a standard backpack won’t be tax-free.
Clothing, such as shirts, jeans, blouses, separates, sweaters, dresses, and skirts are eligible.
Tennis shoes and certain other types of shoes are also on the list for sales tax exemption. Cleats and protective sports gear won’t be free of tax.
A list of other items that won’t fall under the tax-free holiday are jewelry, watches, accessories, handbags, wallets, purses, and umbrellas.
For a complete break down of what’s on the list for 2014, visit the Texas Comptroller website. Detailed information is provided on additional items that may or may not be eligible for sales tax exemption.
Every August a number of states participate in the tax-free weekend event. Some are the very last week of July while others are at the beginning or middle of August. The Inquisitr wrote an article recently on the states that take part in the annual tradition that saves shoppers a lot of money.
The holiday began with New York back in 1997 when it was implemented as a way to help residents save money for back-to-school items as well as other sales items that go on sale this time of year. Since then more states have realized that the tax-free weekend boosts sales and helps people save money.
[Image via Fast Cash]