Coinage, life, well spent. Presented by Geico. Parents, rejoice. Back to school shopping could be cheaper, if you're shopping in the right state, that is. 16 states are offering a sales tax free holiday on select back to school items. Consumers will be able to save 4 to 7% on their purchases, depending on where they're shopping. Eligible items also vary from state to state. The tax free fun can include new school clothes, supplies, footwear and even computers. According to the National Retail Federation back to school spending is expected to reach a whopping $83.6 billion this year. That's a whole lot to be taxed. Keep an eye on those price tags. In order to take advantage of the tax holiday, you'll need to stay under the allotted amount for each category. For example, in most states, $100 is the maximum you can spend on a piece of clothing. The lucky states include Alabama, Arkansas, Connecticut, Florida, Iowa, Louisiana, Maryland, Mississippi, Missouri. New Mexico, Ohio, Oklahoma, South Carolina, Tennessee, Texas and Virginia. Some state wide standouts include Tennessee and Missouri where you can escape the sales tax on computers that cost up to $1500. And South Carolina, which has a wide range of eligible products with no maximum limit at all Check your state's tax website on watch your shop for in your area. For everyone else, it might be time to finally take that road trip. COINAGE. Life, well spent. Presented by GEICO
Just before back-to-school time, department and chain stores are packed with proud parents and grandparents with school attendees of all ages raking up on supplies of all kinds.
Across the U.S., sixteen states participate in the sales-tax-free holidays on clothes, school supplies, footwear and computers.
But just how much can you save and when? This video breaks it down!