Mark Your Calendar for Your State’s Tax-Free Weekend (or Week) | Pennyhoarder

Back-to-school shopping may be exciting for the kids who’ll get new gear, but less so for the parents who have to pay for it all. The National Retail Federation estimates the average household with kids in elementary through high school is expected to spend about $789.49 on clothing, electronics and […]

Back-to-school shopping may be exciting for the kids who’ll get new gear, but less so for the parents who have to pay for it all.

The National Retail Federation estimates the average household with kids in elementary through high school is expected to spend about $789.49 on clothing, electronics and school supplies in 2020 — an increase of nearly $100 over last year, thanks to additional expenses of at-home learning this year.

Some shoppers will be able to find a little financial relief this summer as 15 states have tax-free holidays coming up in July and August, saving consumers from paying sales tax on certain school-related items.

Now, you may not save a ton of money by shopping during tax-free holidays. For example, if you bought $500 worth of clothes, shoes and school supplies during Florida’s tax-free weekend in a county where the sales tax is 6%, you would save only $30. But what parent wouldn’t want to save 30 bucks?

Some states’ tax-free holidays are held over a weekend, while others are a week long. Each state has different criteria for what merchandise won’t be taxed, and many states require the purchases to be under a certain price threshold.

Tax-Free Weekends: When, Where and What

The states that have back-to-school tax-free holidays still coming up this year are Arkansas, Connecticut, Florida, Iowa, Maryland, Massachusetts, Mississippi, Missouri, New Mexico, Ohio, Oklahoma, South Carolina, Tennessee, Texas and Virginia.

Arkansas

  • Clothing and shoes — less than $100 per item.
  • Clothing accessories — less than $50 per item.
  • School supplies — no price threshold, but must be on a state-approved list.

Connecticut

  • Clothing and shoes — less than $100 per item.

Florida

  • Computers and certain electronics — $1,000 or less per item.
  • Clothing, accessories and shoes — $60 or less per item.
  • School supplies — $15 or less per item.

Iowa

  • Clothing and shoes — less than $100 per item.

Maryland

  • Clothing and shoes — $100 or less per item.
  • Bookbags/backpacks — the first $40 is tax-free.

Massachusetts

  • Most consumer products — $2,500 or less per item.
  • Clothing — Massachusetts does not charge any sales tax on clothes under $175 year round.

Mississippi

  • Clothing, shoes and school supplies — less than $100 per item.

Missouri

  • Clothing, shoes and disposable diapers — $100 or less per item.
  • School supplies — $50 or less per purchase (exception: graphing calculators must be $150 or less).
  • Computers and related equipment — $1,500 or less per item.
  • Computer software — $350 or less.

New Mexico

  • Clothing, accessories and shoes — less than $100 per item.
  • School supplies — less than $30 per item (exceptions: backpacks, maps and globes must be under $100 and calculators must be under $200).
  • Computers — $1,000 or less per item.
  • Computer hardware — $500 or less per item.

Ohio

  • Clothing — $75 or less per item.
  • School supplies — $20 or less per item.
  • School instructional materials — $20 or less per item.

Oklahoma

  • Clothing and shoes — less than $100 per item.

South Carolina

  • Clothing, accessories and shoes — no price threshold.
  • School supplies — no price threshold.
  • Computers and related equipment — no price threshold.
  • Bedding, pillows, bath towels, wash cloths and shower curtains — no price threshold.
  • Books and musical instruments — no price threshold (if they are for school assignments).

Tennessee

  • Clothing and shoes — $200 or less per item.
  • School supplies — $200 or less per item.
  • Computers — $3,000 or less per item.

Bonus: The Tennessee General Assembly approved a second tax holiday in 2020 for sales of restaurant food and drinks, Aug. 7-9.

Texas

  • Clothing and shoes — less than $100 per item.
  • School supplies — less than $100 per item.

Virginia

  • Clothing and shoes — $100 or less per item.
  • School supplies — $20 or less per item.

Nicole Dow is a senior writer at The Penny Hoarder. 

This was originally published on The Penny Hoarder, a personal finance website that empowers millions of readers nationwide to make smart decisions with their money through actionable and inspirational advice, and resources about how to make, save and manage money.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source Article

Next Post

The charm of Charleston: Renovated historical home inspired by Southern style

Sat Jul 25 , 2020
Maysville Road is an artery that flows the traffic through the heart of Mt. Sterling. But at 309 N. Maysville St.— right off that main stretch — you could never tell. The house was once an old, L-shaped structure built around 1875 that homeowners Mac and Connie McCormick intended to […]