According to an article on CNN Money, 15 states are offering “sales tax holidays” on back-to-school items for a limited time. With many of the tax holidays lasting for a three-day weekend, state governments are hoping to boost the sales for local retailers. Economists and tax experts on this strategy vary. Some say the retailers will see a jump in sales, while others caution that tax-strapped states can’t afford the revenue loss.
States participating in the tax holiday include Alabama, Connecticut, Georgia, Iowa, Louisiana, Mississippi, Missouri, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Vermont and Virginia. Read the full story here.
Source: Sales Tax Holiday: A Mixed Shopping Bag by Ben Rooney, CNNMoney.com staff writer