The state of Texas offers several opportunities throughout the year to save money on the things you need to buy, but tax-free weekend allows you to save on your taxes while you do it!
With everything from clothing and shoes to backpacks and computers, plenty of great deals won’t be found anywhere else this weekend. Read on for all the details about how to take advantage of this tax-free weekend in Texas!
What Is Tax-Free Weekend?
Every year, states choose a weekend during which they won’t collect sales tax on clothing and footwear under a certain price threshold. In 2022, it’s going to be from May 28th to 30th.
On those three days only, you can buy clothes that cost less than $100 without paying sales tax. If an item is less than $75, you won’t have to pay any sales tax!
If you spend $50, you’ll save yourself 25% of that money by not paying sales tax. If your total purchase is over $75 but less than $100, you will save 10% by not paying sales tax (on top of saving 20% of your total purchase was under $75).
When is Tax-Free Weekend in Texas?
Texas’ tax-free weekend occurs annually and allows consumers to purchase certain school supplies, clothing, and footwear without paying sales tax. As of 2022, residents of Texas can enjoy and take advantage of a tax-free weekend from Saturday, May 28th to Monday, May 30th.
The Dos and Don’ts of Tax-Free Weekend
Here are some tips to help you take advantage of this opportunity and have fun.
DO Know What Sales Are Tax-Free
Any tangible item sold within a specific time frame is tax-free during that weekend. It includes some big-ticket items like appliances and home improvements.
Clothing, computers, furniture, and school supplies are all included! Don’t get too excited about purchasing your new 62 TV yet – it still has to be under $1500 if you want to take advantage of the sales tax holiday!
DO Shop As Soon As You Can
The tax-free holiday only applies to qualifying items purchased during tax-free weekends. There’s a lot to do on a tax-free weekend, so be sure to take advantage! If you wait too long, you may be too late—the minimal window for tax-free shopping can make shoppers pay extra when they put off their purchase.
DO Keep Track Of Your Receipts
It’s important to understand that you can only claim one item per receipt. Additionally, it is required that each item purchased during the tax-free weekend has a price tag on it—so make sure you keep track!
DON’T Forget Your Sunscreen
An estimated 1 million people in Texas will be out for tax-free shopping, but about one-third won’t have sunscreen on. Without it, a person is three times more likely to develop skin cancer than someone who does protect themselves with sunscreen.
Plus, not having it increases your risk for other health problems like wrinkles or eye damage from extended exposure to ultraviolet rays. Take care not to forget your sunscreen!
DON’T Wait Until You Are Ready To Check Out
Remember to write down what you are buying as you go along so that you can complete your list as soon as possible. The tax-free weekend is only for a limited time, so it’s essential to shop fast once you’re ready.
When shopping on May 28th to 30th, expect queues at cash registers! You might even want to shop online ahead of time – many items will be available online with free shipping if you don’t mind waiting a couple of days to receive your purchase.
DON’T Assume The Prices Will Be Marked Down
Most stores don’t put an asterisk on items eligible for tax-free savings, so if you’re not careful, you might miss out on an item that could save you some cash. If there is a price tag, make sure it says Tax Exempt. If there isn’t any mark or label stating exempt on a price tag, assume it’s not tax free.
Is There A Tax-Free Weekend In Texas?
Tax-free shopping will be available for back-to-school items in Texas from May 28th to May 30th, 2022. Local taxes and the state sales tax of 6.25% will not be assessed.
For years I have studied American finance regulations. All the information in this blog is sourced from official or contrasted sources from reliable sites.
Salesforce Certified SALES & SERVICE Cloud Consultant in February 2020, Salesforce Certified Administrator (ADM-201), and Master degree in “Business Analytics & Big Data Strategy” with more than 13 years of experience in IT consulting.