The new school year is only weeks away for many students, and their parents are starting to take them shopping for clothes, supplies and other necessities. However, the price of school items quickly adds up, and many parents are worried about paying for everything their child needs for the upcoming academic year.
Parents may want to take advantage of the back-to-school state tax holidays, which will available in 17 states throughout August. Some of the states that will host a tax-free day for clothes and school supplies for parents to take part in include Alabama, Arkansas, Connecticut, Florida, Maryland, Florida, Iowa and Mississippi.
"Consumers should be aware of specific information regarding the items that qualify for the holiday, in order to get the greatest tax savings," said Carol Kokinis-Graves, Senior State Tax Analyst. "Generally, there are a number of restrictions that apply. State departments of revenue often provide administrative guidance that lists, with great detail, the items that are eligible for purchase on an exempt basis during the holiday and items that do not qualify."