Tax Planning How the Tax-Free Weekend Can Boost Your Back-to-School Savings Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by Zina Kumok Published Aug 1, 2022 - [Updated Aug 5, 2022] 4 min read We’ll do your taxesand find every dollaryou deserve When your Full Service expert does your taxes,they’ll only sign and file when they know it’s 100% correctand you’re getting the best outcome possible, guaranteed. Get started now The current inflation spike is affecting every corner of the economy, and that includes back-to-school shopping. In fact, parents are projected to spend $661 per child to prepare for the coming school year – an 8% increase from 2021 and a whopping 27% increase from 2019. If you’re looking to mitigate this cost increase, you might want to consider taking advantage of the “tax-free weekend” offered in many states. Let’s take a look at how these weekends work, which states offer them and what type of purchases are eligible. What is a Tax-Free Weekend? Most states charge sales tax, which is a tax levied on items you purchase. The more you spend, the more you’ll pay in taxes. To help struggling consumers, many states offer a tax-free weekend during which they will not charge sales tax. Tax-free weekends are usually held right before school starts, so that parents and students can save on clothes, laptops, school supplies and other necessities. The tax holiday applies to both in-store and online purchases. If you purchase an item online, the tax discount will still apply even if the item is delivered after the holiday is over. Every state has its own limits on what you can buy tax-free. For example, most states have a limit of $100 for each clothing item. If you buy a $125 winter coat, you’ll still have to pay taxes on it. However, in most states, adults can also save money during the tax-free weekend because the discount doesn’t just apply to children’s clothing and accessory items. They can also purchase electronics and office supplies without paying a sales tax. Teachers and childcare professionals can also buy classroom supplies during this time. You don’t have to be a resident of the state to benefit from the tax holiday. If you live near a state with a tax-free weekend, you can still take advantage of the discount. Before you hit the stores, you should ensure that the tax-free discount doesn’t lead you to buy more than you can actually afford. Write out what you truly need to buy beforehand. Remember, you’re not saving money if you end up spending more than you would have otherwise. Find Your State: Alabama Dates: July 15-17 Tax rate: 4% Eligible items: School supplies $50 or less per item Clothing $100 or less per item Computers $750 or less Learn more Arkansas Dates: Aug. 6-7 Tax rate: 6.5% Eligible items: Clothing items $100 or less Clothing accessories $50 or less per item Certain school supplies including pencils, notebooks, binders and more Learn more Connecticut Dates: Aug. 21-27 Tax rate: 6.35% Eligible items: Clothing or shoes $100 or less per item Learn more Florida Dates: July 25-Aug. 7 Tax rate: 6% Eligible items: School supplies $15 or less per item Clothes or accessories $60 or less Learn more Iowa Dates: Aug. 5-6 Tax rate: 6% Eligible items: Clothes and accessories $100 or less per item Learn more Maryland Dates: Aug. 14-20 Tax rate: 6% Eligible items: Clothing and shoes $100 or less per item The first $40 of a backpack Learn more Massachusetts Dates: Aug. 13-14 Tax rate: 6.25% Eligible items: Certain retail goods worth $2,500 or less Massachusetts always exempts the first $175 of a clothing item Learn more Mississippi Dates: July 29-30 Tax rate: 7% Eligible items: Clothing and shoes $100 or less per item Learn more Missouri Dates: Aug. 5-7 Tax rate: 4.225% Eligible items: Clothes $100 or less School supplies $50 or less Computers $1,500 or less Software $350 or less Graphing calculators $150 or less Learn more New Jersey Dates: Aug. 27-Sept. 5 Tax rate: 6.625% Eligible items: Clothes and shoes School supplies Certain computers and supplies Instructional materials Some sports and recreation equipment Learn more New Mexico Dates: Aug. 5-7 Tax rate: 5.125% Eligible items: Clothing or shoes $100 or less per item Computers $1,000 or less Computer hardware $500 or less School supplies $30 or less per item Learn more Ohio Dates: Aug. 5-7 Tax rate: 5.75% Eligible items: Clothes $75 or less School supplies and instructional materials $20 or less Learn more Oklahoma Dates: Aug. 6-8 Tax rate: 4.5% Eligible items: Clothing or shoes $100 or less per item Learn more South Carolina Dates: Aug. 5-7 Tax rate: 6% Eligible items: School supplies, clothes and computers Learn more Tennessee Dates: July 29-31 Tax rate: 7% Eligible items: Clothing $100 or less School and art supplies $100 or less Computers $1,500 or less Learn more Texas Dates: Aug. 5-7 Tax rate: 6.25% Eligible items: Clothing, shoes, school supplies and backpacks $100 or less Learn more Virginia Dates: Aug. 5-7 Tax rate: 5.3% Eligible items: School supplies $20 or less per item Clothes $100 or less per item Learn more NO SALES TAX HOLIDAY: Alaska, Arizona, California, Colorado, Delaware, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Maine, Michigan, Minnesota, Montana, Nebraska, Nevada, New Hampshire, New York, North Carolina, North Dakota, Oregon, Pennsylvania, Rhode Island, South Dakota, Utah, Vermont, Washington, West Virginia, and Wyoming. We’ll do your taxesand find every dollaryou deserve When your Full Service expert does your taxes,they’ll only sign and file when they know it’s 100% correctand you’re getting the best outcome possible, guaranteed. Get started now Previous Post Everything You Need to Know About Property Taxes Next Post Tax Benefits Available for Victims of Natural Disaster Written by zinakumok Zina Kumok is a freelance writer specializing in personal finance. A former reporter, she has covered murder trials, the Final Four and everything in between. She has been featured in Lifehacker, DailyWorth and Time. Read about how she paid off $28,000 worth of student loans in three years at Conscious Coins. More from zinakumok Visit the website of zinakumok. 6 responses to “How to Boost Your Back-to-School Savings” you may be able to enjoy tax free shopping for school supplies in several states. If you have several kids going to school this year, you can boost your savings picking up paper, pens, calculators, and back packs. Reply How this work Reply Figures that Calif does not do this. For a state that is already broke (well that is what they tell us) helping schools for a change, would be just so not them. With all the money the lottery gives, why could they not help “Families” who live in this state. That would be to much like right… Reply You said, in your email, that I could find out if my state offered the school purchases sales tax saving. Why, then, am I unable to find that information? Reply This is confusing — according to this site Oklahoma is 8/1, but on the OK Sales Tax website it is 8/7 to 8/9 Reply Ok Reply Leave a Reply Cancel reply Browse Related Articles Tax Refunds Top 5 Smartest and 4 Dumbest Ways to Use Your Tax Refun… Tax Refunds 5 Smart Ways to Spend Your Tax Refund Tax Planning How to Save Before the Holiday Season is Here Tax Refunds How to Use Your Tax Refund to Boost Your Retirement Sav… Tax News Tax Savings: The President Signed the Payroll Tax Holid… Tax Planning 5 Tax Tips for the New Year Tax Deductions and Credits Holiday Donations and Tax Savings Tax Deductions and Credits Observe Veterans Day with 7 Savings and Tax Deductions … Tax Tips The Tax Implications of Receiving a Holiday Bonus Tax Deductions and Credits Happy Summer Solstice! 4 Ways to Save This Season
you may be able to enjoy tax free shopping for school supplies in several states. If you have several kids going to school this year, you can boost your savings picking up paper, pens, calculators, and back packs. Reply
Figures that Calif does not do this. For a state that is already broke (well that is what they tell us) helping schools for a change, would be just so not them. With all the money the lottery gives, why could they not help “Families” who live in this state. That would be to much like right… Reply
You said, in your email, that I could find out if my state offered the school purchases sales tax saving. Why, then, am I unable to find that information? Reply
This is confusing — according to this site Oklahoma is 8/1, but on the OK Sales Tax website it is 8/7 to 8/9 Reply