Tax Free Holiday

Wednesday, August 4, 2010 - 9:56am

18 states now have sales tax holidays, giving parents a break on school supplies.

A number of states will have a holiday this weekend even though kids might not want to know what is being celebrated.

Eighteen states across the country have sales tax holidays, allowing parents to catch a break on back to school supplies.

Texas parents of school age children can not wait for the sales tax holidays later on this month.

"That's when back to school Moms spend a lot money," said Dr. Barnard Weinsteain of SMU School of Business

Those tax holidays will start as soon as this weekend in seventeen other states where parents can save money on big ticket items like computers.

"Why not do it during the sales tax holiday period and save that extra $30,"said Rachelle Bernstein National Retail Federation.

Some states, like Georgia have opted out of tax holidays.

Georgia says it needs the thirteen million in sales tax revenue the holiday would cost, but the National Retail Federation says those states are losing out.

Studies have shown shoppers are spending the money saved through no sales tax.

"So that adds to the retailers' sales, it adds to there sales taxes collected by the state, it adds to income taxes earned in the state by the retailers,"said Bernstein.

The Federation also says this: shoppers who will live near a tax holiday state, are not going to be hesitant about crossing the border.
 

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