Tax Free Holiday Savings

by Nicole Humphrey | More from this Blogger

01 Aug 2006 09:34 AM

This weekend is a tax free weekend here in Missouri. What a great way to save money! I can hardly wait, as it's time to stock up for back to school. I think it's so cool that many states implement this holiday.

We've been waiting to buy some new school clothing and accessories until this weekend, as well as many of our two middle schoolers school supplies. Why? Because I'm a frugal mom - that's why! Why not save money while having to spend it anyway?

If there is something you've been waiting to purchase, and you have a sales tax holiday, this is the perfect time to get it.

There are some things that are not included in the holiday, and it does vary somewhat by state. However, most school clothing will be tax free, as well as school supplies.

The only thing that I have a complaint about, and that I really wish they would change, is when the holiday takes place. Why? Because in Missouri, we have several school districts scattered about that are year round. This means the children start school earlier than a traditional school year. Three of our children attend a year round school and went back to school three weeks ago. Of course they needed their supplies then. So although we saved loads of money on their supplies, by purchasing them on sale and in bulk, we didn't get the added savings of the tax free weekend.

That would have been nice.

I am however, very thankful that they do the tax free weekend, as I am well aware that many states do not. I don't exactly understand why not either.

Upon research, I found that the tax free weekends first took place in 1997 in New York, the first state to implement this once a year phenomenon. The feedback was amazing, and so they continued it. Many states are now in their 8th and 9th year.

I have written another article detailing which states have a tax free weekend, and have lightly touched on some of the items that are not taxed. Please watch for it to publish later today.

And if you know your state has this tax free holiday, start making your shopping list now. A frugal mom knows, it's best to save, whenever you can!

Learn more about Nicole Humphrey

Nicole Humphrey is a freelance writer, consultant for CTMH and a Sr. Blogger for families.com. She resides in St. Charles, Missouri with Mike and their five children and two furbabies.

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Heather Long (16954) 01 Aug 2006 10:01 AM

It's Tax Free weekend here in Texas too. We already went out and did all the clothes sizing and eyeballing so we know what to pick up for our daughter for school. This is the first year I'd ever heard of tax free weekend and I can't wait.

Megan Bayliss (3586) 01 Aug 2006 11:24 AM

How amazing. Thanks Nicole. I've never heard of such a thing but I just adore the concept. We don't have anything quiet so wonderful in Australia I'm afraid. I usually only ever buy when something is on sale. This drives my partner and kids crazy but it's the way I've always been. Because Bali, Singapore and Hong Kong (all low cost shopping meccas) are within a non stress plane leg from Cairns most of my friends go off for a yearly shop-a-thon. I can't think of a worse holiday myself because I HATE shopping. If I am travelling internationally I usually buy the big items (ie: camera) duty free. A tax free weekend, YAHOO! I cant wait until my accountant husband gets up so I can tell him all about it. Just out of interest - how much tax goes onto goods? We have a standard 10% Goods and Services Tax. Food is tax free.

Heather Long (16954) 01 Aug 2006 12:12 PM

Depends on where you live. In the state of Texas, the sales tax is about 8 and quarter percent. But there is no sales tax on Food. The sales tax may be lower in a state that charges State Income taxes.

Jaime Egan (2178) 01 Aug 2006 12:27 PM

We are having a tax free weekend in Virginia as well, and it is the first time here. I can't wait to see how busy the stores are going to be...

Nicole Humphrey (15757) 01 Aug 2006 03:36 PM

Enjoy your tax free weekend! Jaime it's great. Heather, I remember the tax free weekends when I lived in Texas. I think the year I left was the first year they did it. I hadn't ever heard of it before that either however. Enjoy it! Smart shopping by going and checking out what you want before hand! Imaginif - our sales tax here in Missouri (though it ranges by city) We are at 5.590% so although it isn't a huge savings - it's something!

Libby Pelham (12880) 03 Aug 2006 05:40 AM

It was yesterday, today, and tomorrow for NC I think. I didn't pay that much attention because since we can shop on base, I think all the groceries are tax free anyhow.

Andrea M (2525) 04 Aug 2006 07:25 AM

Groceries aren't included in our Tax Free Weekend here! It is stuff for back to school. I.E. clothes, shoes, school supplies, computers etc. I love this and last year is when we bought our laptop!!!! Love it!!!!