Discovering the World of ‘Doge’: The Meme That Transformed into Money

The Daily Money: All about 'Doge.' Good morning! It’s Daniel de Visé with your Daily Money. So, what is "Doge"? Dogecoin, the meme cryptocurrency often associated with Elon Musk, soared in value after President-elect Donald Trump greenlit the tech billionaire's ideas for a new executive department with an evocative acronym. Trump announced that Musk, the world's richest person
HomeBusiness2024 Back-to-School Shopping: Discover 17 States Offering Exciting Sales Tax Holidays!

2024 Back-to-School Shopping: Discover 17 States Offering Exciting Sales Tax Holidays!

Back-to-School Shopping 2024: Discover the 17 States with Sales Tax Holidays


While kids might not be thrilled about back-to-school shopping, many states are offering sales tax holidays this year, allowing parents to save on essential school supplies.

Connecticut will conclude its sales tax holiday on Aug. 24, after starting on Aug. 18. Meanwhile, Maryland began its tax-free week on Aug. 11, which lasts until Aug. 17.

The 17 states participating in these summer sales tax holidays typically exclude sales tax on various school-related items, including clothes, shoes, electronics, and supplies, according to the Federation of Tax Administrators. Notably, Ohio and Massachusetts allow for additional tax-free items beyond just educational needs.

Each state determines its own holiday dates, often falling in July or August, with many states having already completed their tax holidays.

New Jersey has removed its back-to-school sales tax holiday, following legislative changes earlier this year.

Families Have Started Their Back-to-School Shopping

As of early July, over half (55%) of families shopping for back-to-school items and college supplies had already started making purchases, as per the annual survey conducted by the National Retail Federation and Prosper Insights & Analytics.

“Families and students are eager to get ahead on their shopping for the upcoming school year,” stated Katherine Cullen, NRF Vice President of Industry and Consumer Insights, in a press release. “Retailers are prepared for this earlier demand and are equipped to provide various products at competitive prices.”

On average, families with children in elementary through high school anticipate spending $874.68 on apparel, footwear, electronics, and school necessities, which is $15 less than last year’s record of $890.07 but still the second-highest amount recorded in the survey’s history.

Total spending for back-to-school items is projected to hit $38.8 billion, making it the second-highest figure ever, following last year’s peak of $41.5 billion, according to the NRF.

Shoppers most frequently turn to online platforms (57%), followed by department stores (50%), discount retailers (47%), clothing outlets (42%), and electronic shops (23%) for their back-to-school purchases.

When it comes to college students and their families, spending is expected to be higher. On average, college-related expenses will reach $1,364.75, roughly in line with last year’s $1,366.95. The total expected spending on college back-to-school items is $86.6 billion, again the second-highest amount following last year’s $94 billion.

Consumers Are Concerned About Inflation While Shopping for Supplies

A recent back-to-school study by Ankura Consulting indicated that a significant number of consumers (51%) are feeling negative about the state of the U.S. economy and are weary of rising inflation.

Roughly 75% of shoppers stated that their personal debt and credit card balances will influence their budgets for back-to-school shopping.

Furthermore, consumers are also evaluating other financial pressures: nearly 50% of back-to-school shoppers have reported significant hikes in their auto insurance costs, while 36% are experiencing increases in home insurance and 32% have noticed higher health insurance premiums. These living costs are affecting their disposable income, per Ankura’s findings.

Is There a Sales Tax Holiday for School Supplies in My State?

Here is a list of states participating in the sales tax holidays, along with details about what is tax-exempt, as reported by the Federation of Tax Administrators. Keep in mind that guidelines and dates can differ by state, so check your state’s official website for the latest updates. Local taxes may also still apply in some cases.

If a specific dollar amount isn’t mentioned, it means the state hasn’t indicated a limit on that item. Most online purchases usually qualify for the sales tax holiday, but verify your state’s requirements for accuracy.

Alabama

July 19-21

Items exempt from tax:

  • Clothing and shoes: $100 or less per item
  • Computers: $750 or less per item
  • School supplies: $50 or less per item
  • Books: $30 or less per item

Arkansas

Aug. 3-4

Items exempt from tax:

    • Clothing
      • Items of clothing and shoes priced at $100 or less each
      • Clothing accessories priced at $50 or less each
      • School supplies
      • Electronic devices used for educational purposes

Connecticut

August 18-24

What is exempt from tax:

      • Clothing and shoes costing under $100

Florida

July 29-August 11

What is exempt from tax:

      • School supplies priced at $50 or below per item
      • Clothing, footwear, and accessories costing $100 or less each
      • Computers and accessories up to $1,500
      • Learning tools and jigsaw puzzles at $30 or less

Iowa

August 2-3

What is exempt from tax:

      • Clothing or footwear costing $100 or less each

Maryland

August 11-17

What is exempt from tax:

      • Clothing, footwear, and other accessories priced at $100 or less each
      • Backpacks: The first $40 of the cost is tax-free.

Massachusetts

August 10-11

      • Retail items for personal use priced at $2,500 or less (not just for school supplies). Certain exceptions apply, including meals, motor vehicles, vessels, electricity, tobacco, marijuana, alcoholic beverages, and items over $2,500.

Nostalgic Shopping: For some toy retailers, filling shelves with nostalgic items is rewarding.

Mississippi

July 12-14 (Due to a recent Senate bill, the holiday changed to the second Friday and Saturday of July and was extended to Sunday).

What is exempt from tax:

      • Clothing and shoes priced at $100 or less each
      • School supplies priced at $100 or less each

Missouri

August 2-4

What is exempt from tax:

      • Clothing costing $100 or less per item
      • School supplies priced at $50 or less each
      • Computers up to $1,500
      • Computer software priced at $350 or less
      • Computer peripheral devices up to $1,500
      • Graphic calculators priced at $150 or less

New Mexico

August 2-4

What is exempt from tax:

      • Clothing and shoes costing $100 or less each
      • Desktop computers, laptops, tablets, or notebooks priced at $1,000
      • Computer hardware priced at $500 or less each
      • School supplies priced at $30 or less each

Ohio

July 30-August 8

What is exempt from tax:

      • Ohio’s tax-free holiday in 2024 now lasts 10 days and applies to all tangible personal property priced at $500 or less, excluding watercraft, motor vehicles that require titles, alcohol, tobacco, vapor products, and marijuana products. Dine-in meals costing less than $500 will also not be taxed.

Oklahoma

August 2-4

What is exempt from tax:

      • Clothing and shoes priced at $100 or less each.

South Carolina

August 2-4

What is exempt from tax:

      • Clothing, shoes, and accessories
      • School supplies
      • Computers, printers, earphones, and headphones
      • Specific bedding and bath items
      • Diapers

Tennessee

July 26-28

What is exempt from tax:

      • Clothing and shoes priced at $100 or less each
      • School supplies priced at $100 or less each
      • Computers, including laptops and tablets, priced at $1,500 or less each

Texas

August 9-11

What is exempt from tax:

      • Clothing and shoes costing $100 or less per item
      • Backpacks priced at $100 or less each
      • Face masks
      • School supplies priced at $100 or less each

Virginia

August 2-4

What is exempt from tax:

      • Clothing and shoes priced at $100 or less each
      • School supplies priced at $20 or less each

West Virginia

August 2-5

What is exempt from tax:

      • Clothing priced at $125 or less each
      • Laptop or tablet computers priced at $500 or less each
      • School instructional materials priced at $20 or less each
      • School supplies priced at $50 or less each
      • Sports equipment priced at $150 or less each