Tax-free weekend is just two weeks away and savvy shoppers are already gearing up for the savings to be made in laptops and other back-to-school supplies.
Unfortunately, not all states participate in tax-free weekend. Only 21 states will offer a tax-free weekend in 2013 starting on August 2 - 4. The participating states include: Alabama, Arkansas, Connecticut, Florida, Georgia, Iowa, Louisiana, Maryland, Mississippi, Missouri, New Mexico, New York, North Carolina, Oklahoma, South Carolina, Tennesse, Texas, Vermont, Virginia, Washington D.C. Five additional states do not have a state sales tax throughout the year: Alaska, Delaware, Montana, New Hampshire and Oregon.
Most of the Tax-Free Weekends will fall on August 2 - 4, but some states are holding the weekend later in August. Click here to confirm when your state will be participating the tax-free weekend before splurging out.
Several states already have tax holidays throughout the year, but this shopping period is particularly popular because many parents are shopping for back-to-school items. The tax-free holiday will also be a break for small business owners.
There are some items that are nonexempt during theta-free weekend include jewelry, cosmetics, eyewear, furniture and cell phones.
If your state does not host a tax free weekend, consider driving to a nearby state that does. Alternatively, contact your local state representative to request that he or she initiate sales tax holiday legislation for your area.
The tax-free weekend has proved to be very popular among families with children and they are reported to spend 295 percent more on shoes and 117 percent more on children's clothing during sales tax holidays, according to a Federal Reserve Bank of Chicago study. Meanwhile, the National Retail Federation says stores in states that have tax holidays see "significant increases" in sales during the tax-exempt period.
