Knowing when and how to take advantage of state sales tax holidays might help you save a significant amount of money. This year, several states provide opportunities for discounts throughout July and August, especially if you’re looking for back-to-school-specials.
On other things, such as hunting gear, energy-saving appliances, and emergency and weather preparedness equipment, there are tax-free holidays spread throughout the year.
Here’s what you need to know about state sales tax holidays and how to take advantage of them.
What is a state sales tax holiday?
A period of time when numerous states waive their sales taxes on particular goods is known as a state sales tax holiday. Usually, the tax-free benefits are only valid for one weekend, but there are occasionally much longer terms.
State sales tax holidays often include restrictions on what can be purchased, including goods and price. You might be able to buy tax-free computer models up to $1,000 but not ones that cost more, for instance.
When is the state sales tax holiday or tax-free weekend in my area?
There are several state sales tax holidays. During certain holidays, the state sales tax might be zero, but retailers might still be required to collect a municipal or local sales tax. Remember that not all states now levy a state sales tax. However, in some states, local governments (such as the city or county) are still permitted to charge taxes.
Shoppers in Alabama can take advantage of a state sales tax holiday happening from July 21 to July 23.
Shoppers will be exempt from the state’s regular sales tax on the following items, up to the maximum cost.
Clothing – $100
Computers – $750
School supplies – $50
Books – $30
Most Alabama cities and counties are also rolling back their sales tax during holidays.
Considering that the state sales tax in Alabama is 4%, taking full advantage of the exemption limits might result in savings of almost $37.
Not just students and instructors can benefit from the holiday; everyone can.
States Sales tax holidays for back-to-school goods will soon be made available in other areas.
From July 24 to August 6, Florida has a sales tax holiday.
Residents of Arkansas, New Mexico, Ohio, Oklahoma, and South Carolina may shop apparel and school supplies tax-free from August 5 to 6.
Additionally, Texas will waive sales taxes on clothing, backpacks, and school supplies from August 11 to 13.
To gather more information about sales tax holidays in each state, you may also read here.
Back to School Savings
Customers in the US can benefit from Target’s current back-to-school sales events.
All teachers, professors, and other educators are eligible for a 20% discount on their total purchase from July 16 to August 26 when they provide a valid ID.
College students can also get 20% off their whole purchase when they join the free Target Circle Rewards program and have a valid ID.
With the majority of the items priced around $15, Target has loaded its shops with back-to-school and back-to-college necessities.
The back-to-school season is also being capitalized on by other retailers.