Is Tax Free Weekend a Joke?

Is tax free weekend a Joke?

Anyone ever get excited for tax free weekend? The few days a year that we don’t have to pay sales tax up to $100 in each transaction.

Usually a few weeks before school, the state allows us to keep a portion of our own money from Friday through Sunday.

Something that I don’t know how many of us anymore realize, is that this weekend represents something that we should be doing everday.

Keeping our money in our pockets.

Taxes.  

Do we really know who, what, when, where or why anymore?

“Sales tax in Texas is a key revenue generator for the state government, largely because the Lone Star state is one of just a handful of states across the U.S. that doesn't have a state income tax. As a result, you'll find sales tax rates of anywhere from 6.25% to 8.25% in Texas, with the exact amount depending on the local add-ons that are present in a particular area.”

And further, do we know what it is being used for?

To put it simply, it goes into a general fund to be used by the State as they deem necessary.

“The Texas Comptroller's office serves the state by collecting more than 60 separate taxes, fees and assessments, including local sales taxes collected on behalf of more than 1,400 cities, counties and other local governments around the state.”

Texas imposes a 6.25 percent state sales and use tax on all retail sales, leases and rentals of most goods, as well as taxable services. Local taxing jurisdictions (cities, counties, special purpose districts and transit authorities) can also impose up to 2 percent sales and use tax for a maximum combined rate of 8.25 percent.

Surprisingly enough, Texas is one of the states with the lowest, Louisiana being the highest at 10 cents for every dollar!

For a lucky few states, they don’t pay anything.

So for all you moms and dads trying to save a little over 8 bucks, since of course, state regulation says tax free up to a $100 purchase, good luck in those lines.

Have more kids then will be under a $100 budget? Have no fear, just have each family member do their own transaction.

(*please note the smartass tone in my writing when I say that)

Several options to buy on these 3 days are “most things” from clothes, backpacks, shoes and school supplies.

This year will be between August 10 through midnight August 12.

Keeping in mind that many stores will have sales to go along with state given freedom?! For lack of a better way to describe.  

Get ready families..

If history repeats itself, it will be a mini black Friday.

Remember #ShopLocal #MomAndPopStores #HendersonCounty #LotsOfOptions #MakeThisWeekendCount

https://comptroller.texas.gov/taxes/

https://taxfoundation.org/state-and-local-sales-tax-rates-2018/

https://taxfoundation.org/state-and-local-sales-tax-rates-2018/

https://comptroller.texas.gov/taxes/publications/98-490/

https://www.fool.com/taxes/2017/04/12/why-sales-tax-in-texas-is-so-important.aspx

https://www.treasury.gov/resource-center/faqs/Taxes/Pages/state-local.aspx

Leave a comment