'Tax-Free Weekend': Is Your State Included?
Who says there aren't any holidays in August? If you do business in one of 17 states with a sales tax holiday, a "tax-free weekend" -- or even a "tax-free week" -- may be fast approaching.
The "tax-free weekends" coming up in July and August generally apply to back-to-school sales for items such as clothing, computers, and school supplies, according to the Federation of Tax Administrators (FTA), which works with tax-collection agencies in all 50 states.
Is your state among those with a back-to-school "tax-free weekend" holiday? And if so, when does it take place? Check this list, provided by the FTA, to find out:
July 26-27, 2013:
August 2-3, 2013:
August 2-4, 2013:
August 3-4, 2013:
August 9-10, 2013:
August 9-11, 2013:
August 11-17, 2013:
August 18-24, 2013:
So what do "tax-free weekends" mean for small business owners? Typically, they result in a big jump in sales, The Christian Science Monitor reports.
That's why now may be the best time to prepare for your state's "tax-free weekend" -- perhaps by spreading the word through advertisements or via social media. (Just remember to keep those tweets legal.)
Because each state's "tax-free weekend" works differently, you'll want to check with each state's tax division (see the above links) to find out exactly what's covered.
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Related Resources:
- Tax-free weekend moves a week earlier across Texas (Houston Chronicle)
- What the Internet Sales Tax Means for Small Biz (FindLaw's Free Enterprise)
- N.Y.'s Amazon, Overstock Sales Tax Upheld (FindLaw's Free Enterprise)
- 5 Signs You Need a Tax Lawyer, Not a CPA (FindLaw's Free Enterprise)