I know, I know… It’s still summertime. But retailers are counting on the fact that parents are already thinking about school for fall. My newspapers and inboxes have been stuffed to the gills already with “back to school” ads and specials.
In a tough economic climate, retailers are hoping for every extra incentive they can find to boost spending. Traditionally, many states host a “sales tax holiday” at the end of July/beginning of August meant to spur consumer interest in back to school supplies and clothing a bit early. Some states, already facing gaping holes in their budgets are opting out of sales tax holidays; nonetheless, there are still 15 states on tap with programs this year. Those states are: Alabama, Connecticut, Georgia, Iowa, Louisiana, Mississippi, Missouri, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia and West Virginia.
In the past, I’ve included a handy dandy chart showing what items are affected by sales tax holidays. This year, however, I’m deferring to Don’t Mess With Taxes and Wallet Pop – each has a great chart summarizing what items are eligible for the break and what the limits are from state to state.
It’s worth noting that some states haven’t yet made up their minds (I’m talking about you, Massachusetts). I’ll keep you posted if there are any changes.
