It's that time of year again, back to school shopping! Thanks to a bright idea in the early 2000's for few glorious days in 16 different states the sales tax is dropped to give parents a financial break while boosting the local economy. The tax break usually centers around must-buy items like uniforms and backpacks that can put an extra burden on families who may already be struggling.
According to the National Retail Federation annual survey, the average family with children in grades K-12 will spend $630.28 preparing for school. Believe it or not, that is down from previous years.
The NRF says up to $400 of that back to school budget is spent on clothes. Eliminating the state sales tax means taking a chunk of that price out of the equation, giving families more flexibility as they gear up for class.
Womensforum has put together a list of the Tax-Free Holidays and links to each state's website where you can find a list of the eligible items and rules.
July 29 - 31, 2016
AUGUST 5 - 7, 2016
AUGUST 6 - 7, 2016
AUGUST 7 - 13, 2016
AUGUST 14 - 20, 2016
Several states are considering having tax-free holidays: California, Nebraska and Rhode Island.
If your state doesn't recognize a tax-free holiday, consider whether making a day trip to a nearby state that does is worth it.