60 Second Tips: Back to School Tax Holidays

Video Transcript:

Plenty of parents are counting down to the start of the new school year.
But even if you don’t have little ones heading back-to-classes, I can still help you save cash. Just give me 60 seconds.

Now if you live in one of the 38 states that collect local sales taxes, you might just get a break.
According to the Tax Foundation, 16 states are about to declare back-to-school tax holidays.

There are too many states to name all of them, but the list includes Louisiana, Alabama and Oklahoma which have some of the highest sales tax rates in the country.

Now we are not just talking about a tax break on pens and notebooks.

If you live in Alabama, Florida, Louisiana, Texas and Virginia now’s the time to stock up on gear for extreme weather like portable generators and batteries.

Maryland, Missouri, Texas and Virginia are also offering breaks on certain Energy Star Appliances and Water Sense products.

Grab your guns in Louisiana and Mississippi where their tax holiday extends to firearms and ammunition.

As you can imagine there are plenty of loopholes.
Some states like Connecticut only off the tax break to state residents.

Just because state tax is waived, doesn’t mean all taxes are off the table.

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