Filed underConsumer, Education, Family, Family & Pets, Local, News, Shopping, Shopping & Style, Syndicated Local, Texas
FORT WORTH (CBSDFW.COM) - Retailers are bracing for big crowds this weekend. At the stroke of midnight on Friday, Texas officially kicked off its annual sales tax holiday. Granted, most parking lots were empty and stores closed as the savings first started. But that will all change once parents and kids wake up and get ready to brave the onslaught of shoppers.
They do it to get a break on back to school supplies. Sales tax is waived on certain products, all weekend long. According to state officials, a shopper will save about $8 for every $100 spent. That adds up to nearly $79 million in state and local taxes that will not be collected Friday through Sunday, the state estimated.
Of course, many individual retailers offer special deals and extended hours to help shoppers save even more money this weekend.
Sales tax will not be collected on most clothing and shoes priced under $100 including caps, coats, dresses, suits and even rollerblades. And many school supplies are on the list of tax-free items as well — from pens and pencils to bookbags and calculators. But not all school items are on the list of eligible products. Sales tax will be collected on textbooks and computers.
The sales tax holiday has been happening every year in Texas since 1999. It is designed to give parents and children a chance to stock up on school supplies and new clothes while saving a little bit of cash in the process.
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