Wednesday, July 25, 2012
No Sales Tax Holidays!
With August right around the corner, it's time for most states to take part in Sales Tax Holidays. Normally, a lot of states take part in this, although it doesn't seem like there are as many states this year as there have been in previous years.
During this specific time period, you can purchase school supplies (and often clothes) up to a certain amount and you won't pay any sales tax for those items. These rules all vary from state to state, but the basic guidelines remain.
For instance, MD's sales tax holiday is August 12-18 and any clothing or footwear purchase under $100 won't be taxed. That is based on the actual item price, so if you buy a pair of shoes at $99.99, they will not be taxed.
This also goes for all purchases within a category, there is nothing you have to do to prove that you are purchasing these items for someone who is going to school; the tax will just automatically be taken off as long as it meets the requirements your state allows.
Here is the full list of states that are participating in the No Sales Tax Holiday this year, along with what purchases are covered under the holiday.