Monday, August 8, 2011
Money Monday: Sales Tax Holiday
For parents back to school means parting with some hard-earned cash to make sure their kids have everything they'll need. But as 7s Lynn Martinez tell us on tonight's Money Monday, if they shop during the 2011 sales tax holiday, they can save big.
WSVN -- Everywhere you look in South Florida stores are stocked with back to school supplies. Some parents start early to avoid the last minute rush.
Tony Diaz, Parent: "I'm shopping for a 4th grader and a brand new high schooler."
The Diaz family has two daughers, and supplies can be expensive.
Tony Diaz: "Just in school supplies probably about a $100 to $150 depends if she needs a new scientific calculator or not."
But parents can save big on back to school items if they take advantage of the 2011 Florida Sales Tax Holiday starting this weekend, August 12th through the 14th.
Donna Shultz, Walmart Store Manager: "For the average family with one child, the potential savings during the tax free time is up to and including $75."
If you buy during the sales tax holiday, you don't have to shell out the six to 7 percent sales tax.
For certain clothes shoes and accessories that are $75 or less or for certain school supplies selling for $15 or less.
Donna Shultz: "Some of the items tax exempt would include basic school supplies like notebook, paper, composition books. In the uniforms, it would be uniform tops and bottoms skirts, kahaki pants, shoes as well and. Then over in our computer department it would be texas instument calculators, and items of that value."
So if you buy a texas instrument calculator for $56.97 without sales tax, you'll save just under $4.
Donna Shultz: "It's potentially a huge savings during that particular time."
Tony Diaz: "Grab all three with you and book covers you can never have enough."
While some like to get an early start on shopping with a potential savings of $75 during the sales tax holiday, the wait could be worth it.
Lynn Martinez: "In case you missed it, the Sales Tax Holiday is the weekend of August 12, 13 and 14th, and not all school supplies are tax exempt during that time."
FOR MORE INFORMATION:
2011 FLORIDA SALES TAX HOLIDAY