Can you believe it, School begins in a month or so? Which, means the Fall Real Estate market is coming up and sellers should prepare now. The markets have been good so far, although sales & inventory are beginning to fall. On the plus side median prices are up because the higher end homes are selling again.
BUT, that's not the purpose of this blog post.
Many states, who charge a sales tax, have sales tax holidays in August to encourage back to school retail sales. There are limitations though. You can't purchase a vehicle and escape the sale tax, for example. Each state has their list of exemptions. I've posted a list for the 2014 August sales tax holidays derived from the Federal Tax Administrators website [taxadmin.org]
I did notice that Massachusetts was not included. Apparently there is legislation still waiting to be voted on then sent to the governor for his signature. The dates being discussed are August 16 & 17. You can read the article at MA Sales Tax Holiday The list below covers other states AND, of course many people living close to sales tax free states do tend to shop there. I believe these sales tax holidays are good for states to keep people from fleeing to the other tax free states to do their shopping. I'd like to see the elimination of sales tax all together BUT at least on vehicle sales.