Some “Tax Holidays” Being Cancelled

Several states usually participate in what’s called a “tax holiday” where it’s citizens can go shopping for a period of a few days, usually over a weekend, without paying sales tax on anything. For instance, right now would be the time for the tax holiday for many states that do it because it’s prime back to school shopping time. I’m sure the reason they do it this way is that working parents get a break on shelling out the dough for their kid’s back to school needs, so they get a little economy boost while also feeling good because they did something for a kid and for their parents.

Sales tax can range usually from about 5% up to above 7%, depending on what states you live in. That can add a substantial amount of money to your end-bill if you’re buying a lot of goods, so this tax holiday can really be an incentive for many shoppers. Which is why it would especially be good with the way things are now, to help stimulate the economy and the consumer mindset and jump start it now that some good news is starting to come out about this economic recovery.

However, some states are so strapped for cash that they may cancel or at least postpone these popular tax holidays. Among the states that have cancelled this tax holiday are Massachusetts, Florida, Maryland and the District of Columbia,with the state of Illinois putting their tax holiday on indefinite hold due to difficulties, but not out and out cancelling it. Many states have already had their tax holiday by now, but those that haven’t are contemplating it, at least some of them are.

So, does your state offer a tax holiday? I know I wasn’t sure if my state of Ohio did, but they actually don’t. You can keep up on the latest by reading your local papers that are based in your state or by keeping up with the local news online, which of course as you know, has pretty much replaced newspapers these days for thousands of people. Usually this kind of local news is covered and you won’t miss out on an important opportunity to save some money. It’s basically like money in your pocket if you pay attention and take advantage of going shopping for things you need anyways when these types of deals come up!