If you're rushing to complete this year's back-to-school shopping, there's still time to save on sales taxes on those purchases in three states.
Each year, a number of states offer families a sales-tax-free period in the run-up to a new academic year. On those days, shoppers can earn sales tax breaks on products, such as clothing, shoes, electronics and classroom supplies.
Given that spending on school essentials will be a bigger struggle for families this year who are trying to manage their household budgets with less disposable incomes because of inflation, the ability to save a little bit becomes more important.
Back-to-school spending by parents with children in grades K-12 is expected to decrease 10% this year over last year to $597 per student, according to a forecast last month from Deloitte. The last time Deloitte expected a decline in back-to-school spending was in 2014.
Although the window to take advantage of the sales tax holidays has already passed in most states that offered them this year, shoppers are still in luck in Connecticut, New Jersey and Florida.
In Connecticut, the annual sales tax-free week began on August 20 and ends on August 26. During this period, shoppers can buy clothing and footwear tax free as long as its under $100. The items include products like jeans, athletic shoes, shirts, swimsuits, scarves, ear muffs and boots.
New Jersey's sales tax-free holiday, running from August 26 to September 4, covers back-to-school essentials such as computers, school supplies, and sport or recreational equipment. For computers, the exemption covers devices under $3,000 and school supplies, including textbooks, reference books, art supplies, backpacks, lunch boxes and stationery.
The exemption also covers sports items, such as gloves, skates, shoulder pads, athletic shoes and helmets.
The sales tax holiday in Florida, which ends on September 4, covers children's athletic equipment priced at $100 or less.
