A sales tax holiday in Texas is an event during which the Texas Comptroller of Public Accounts allows the citizens to buy specified items to be purchased in the state without paying sales tax.
The sales tax exemption applies only to qualifying items you buy during the sales tax holiday. Whereas the things that you buy before or after the sales tax holiday do not qualify for an exemption, and there is no tax refund available also.
Things you Need to Know About Texas Tax-Free Sale of Texas
The popular tax-free sale of texas has certain school supplies, apparel, and footwear that can be bought without paying sales tax on the tax-free weekend. It takes place every year and this year Texas citizens were able to take advantage of a tax-free weekend from Saturday, May 28 through Monday, May 30th.
The Reason Behind the Popular “Tax-Free Weekend’
Tax-free weekends are being organized for years now. It was started in Texas to provide many opportunities for its citizens to save money on the goods they need to buy during the year. It is organized every year with the same motive, enabling the Texas citizens to save money on their taxes!
What can you buy?
At every Texas Tax-Free sale, there are fantastic sales on a wide range of items like computers, bags, apparel, and shoes that cannot be bought elsewhere.
Every year, Texas permits a wide range of purchases without paying sales tax. You can grab tax-free; clothing, bags, and school supply worth $100. The range of items also includes specific Energy Star goods, that you can buy for $2,000; and Energy Star air conditioners worth $6,000.
How much can you save?
You can purchase clothing for less than $100 on those three days alone without paying sales tax. You won’t have to pay sales tax on anything that costs less than $75!
By not paying sales tax on a $50 purchase, you will keep $25 of that money for yourself. In addition to saving 20% if your entire transaction was under $75, you will save 10% by not paying sales tax if your total is over $75 but under $100.
What is a Back to School Sale?
Since 1999, Texas has maintained a yearly “Back to School” sales tax holiday. This tax break is designed to assist parents in making cost-effective purchases of typical back-to-school goods for their kids.
During the annual Tax-Free Weekend, the Comptroller invites all taxpayers to support Texas companies while saving money on the majority of apparel, footwear, school supplies, and bags (sold for less than $100). Tax-free purchases of qualifying items can be made from a Texas retailer as well as from an online or catalog vendor operating in Texas. In most circumstances, you can purchase qualified things tax-free without providing the seller with an exemption certificate.
The sales tax holiday for this year starts on Friday, August 5 and ends at midnight on Sunday, August 7.
The sales tax exemption applies only to qualifying items you buy during the sales tax holiday. Items you buy before or after the sales tax holiday do not qualify for exemption, and there is no tax refund available.
Through Sunday, all face masks, backpacks, and school supplies are tax-free. Crayons, calculators, highlighters, glue sticks, notebooks, pencils, erasers, and school kits are just a few of the many school supplies that are tax-free.
There is no cap on the number of school supplies that can be included in a kit, but the kit can only be tax-free if the value of the exempt items outweighs the value of the taxable ones.
Students can purchase items like running gear, socks, sneakers, chef uniforms, coats, pants, and robes for their dorms because clothing is also on sale. Don’t forget
You can also shop online instead of in a crowded store. You can benefit from the tax-free weekend if the item is delivered, and the consumer pays for it within the next three days. Or the tax exemption also applies if you place an order for the product and the vendor accepts it for immediate shipment while the exemption is in effect.