Tax Free Weekend Kicks-in in Many States
Tax free holidays are approaching in several states including Tennessee, Arkansas, Alabama, Georgia, Connecticut, Florida, Iowa, Maryland, Mississippi, Louisiana, Missouri, Ohio, Oklahoma, New Mexico, Texas, South Carolina and Virginia.
On Friday the first day of the three day event, large number of bargain hunters arrived at retail shops and malls in Nashville, Tennessee, as the state celebrates its eleventh yearly sales tax holiday. The time matched that back-to-school shopping season.
The main goal of tax-free weekend is to improve sales numbers for retailers and also give shoppers a tax break on a yearly basis on purchases of new school supplies, clothing and various other items.
According to the National Retail Federation, this year, the spending is predicted to boost almost ten percent to $673 for families with kids who are in kindergarten to high school level. Compared to 2015's $899, the college students are expected to spend $888 on an average.
Shoppers in Tennessee do not have to pay sales tax on clothing and school supplies that are below $100. The tax free facility is also applies to computers and tablets which are priced lower than $1,500. It applies to brick and mortar stores as well as online shopping.
However, various items including jewelry, watches, handbags, wallets, sports equipment, cellphones and many others are still taxable.
Organic Market Europe
New Zealand News
- Macau Gambling King Stanley Ho passes away aged 98
- Tensions between US and China may hurt Las Vegas’ Casino Revenue
- Nevada Gaming Watchdog forces Casinos to submit their reopening plans
- Star Entertainment announces $2.3bn funding for Queen’s Wharf casino resort in Brisbane
- Air New Zealand announces layoff for 300 engineering and Maintenance jobs