It's HERE! Tax Free Weekend. But what exactly does that mean?
As in previous years, the law exempts most clothing, footwear, school supplies and backpacks priced less than $100 from sales and use taxes, which could save shoppers about $8 on every $100 they spend.
This theoretically applies only to "back to school" items, but the list of exempted items is huge.
It's also rather confusing; for example, football jerseys are tax exempt -- but football pads are not!
Here are some key things to know:
- All retailers are required to participate in the tax-free weekend -- but not all retailers are required to provide a discount on site. Instead, they may charge you tax and then give you the paperwork needed to file for your refund. This is a hefty process, as it involves sending paperwork and a written request to the Comptroller's office with copies of your receipts. If you don't want to spend hours filing and weeks waiting for your refund, be sure the store where your shopping provides an on-site tax break.
- You can purchase items using layaway, but only "if the customer places the qualifying merchandise on layaway during the holiday or makes the final payment during the holiday." In other words, the tax holiday is a great time to place your purchase on layaway!
- You can buy a surprising range of tax-exempt items during the tax holiday, but you will be surprised by what is and what is not exempt. If you're a tennis player, for example, you're in luck -- all your tennis-related clothing is exempt. But hockey gloves are not exempt!
Here are just a few of the surprising items that are exempt and non-exempt:
- Cowboy boots
- Bowling shirts
- Chef Uniforms
- Adult and baby diapers
- Hunting vests
- Children's novelty costumes
- Sports helmets
- Sports pads
- Ski boots
Learn more courtesy CBSDFW.com