No Taxation
August 3rd, 2007Why do I have a sudden urge to toss tea?
Well, Virginia, tax-free weekend is back. We get to keep our 5% when buying school supplies under $20 and clothes under $100, from today through Sunday.
As an article I read in the Richmond Times-Dispatch observes, the school supply aspect isn’t a huge bonus - Filling a supply list for $30 equals about $1.50 in tax savings. It’s better than nothing, but looking for the best prices has the potential to save shoppers more.
Clothes purchase savings could certainly add up, again assuming that consumers are shopping around for the best sales and deals already. For instance, a number of stores around Richmond are offering 30-40% off already-reduced clearance prices, so it’s a great time to stock up on summer clearance items while saving the 5% normally garnished by the state. Macy’s, Dillard’s, JCPenney, and Kmart are some of the retailers I’ve seen advertising the additional discounts. (I patronized a number of these on a baby clothes shopping expedition this morning and saved a couple of bucks from the Commonwealth’s clutches - more on what I bought in another post.)
Also, Circuit City is one of the retailers picking up the sales tax on in-store purchases this weekend. If you’re in the market for any pricey electronics and see a good deal, the extra 5% you save would definitely add up.