Stocks, Stock Swings, Options, and Option Trades

   Disclaimer: Consult a Financial Advisor prior to taking the advice offered. By reading this blog site you agree to not hold any authors or responsible for market loses that you may incur.

 Subscribe in a reader

Subscribe to FastSwings by Email

About Sales Tax Holidays during Back To School

Jun 15 2015


Each year at the beginning of August, "Back To School" season comes to the United States.  In sixteen states within our nation's borders, this brings with it a weekend of sales tax holidays.  This tax-free hiatus is intended to provide parents with a small break when buying back-to-school books, uniforms, and other supplies. During the August 2-4 weekend, Alabama, Florida, Arkansas, Louisiana, Iowa, New Mexico, Missouri, Oklahoma, North Dakota, South Carolina, Tennessee, and Virginia will host sales tax holidays.   Georgia and Texas will hold their holidays during the August 9-11 weekend, while Maryland's holiday runs all week long (from the 11th to the 17th).  Likewise, Connecticut's weekend extends from August 18 to August 24.

Sales are often hectic and a lot of states include all items up to a specific price level in the holiday.  Meanwhile, others have a very specific group of tax-exempt items.  Visit your state's official website or tune in to the local news to verify which items will be tax-free.  Parents of college-aged students may also use sales tax holidays as a tax write off.  They should thus be sure to document the amounts spent to send their undergrads off and report it on their annual tax return.

Besides the profits gained during tax holiday, many stores and other merchants host special sales events exclusively for those weekends in an effort to attract more customers.  For parents trying out this shopping trip, enter it with the mentality of Black Friday shopping forays.  Get into the stores early and have an advance plan of attack.  Do some advance research and target where you want to shop this year.  Having such a plan in place saves time by making the expedition go much easier.  If your state does not have tax-free holidays, do not be afraid to do a little driving.  The savings are often considerable if you reside within driving distance of a participating state.  Back-to-school can be an expensive time of year, but those who live in states that offer sales tax holidays can save some money while relieving lots of stress!

Shoppers Take Advantage of Tax Free Weekend

Our FaceBook Page

Market Summary