Is the coming sales Tax-free?

Question

I heard from some people that black friday sale or after thanksgiving day sale tax free? Is it true?

Answer 1

That's up to the individual states. I'd highly doubt that any would do a tax-free day on that day as it accounts for as much as 1/4 of the entire annual take in some areas. Normally the tax holidays are timed for back to school.

Answer 2

No, it is not automatically tax-free. It depends on your state's law.

Whenever there is a sales tax holiday, it is usually timed to be near the back to school sales or the after Christmas sales.

Also, some retailers advertise that they will pay the sales tax for you. They can either follow wartz's example or give a discount that is equal to the sales tax after the sales tax has been added. In wartz's example, using the method I cited, the discount would be $7.

Answer 3

Some merchants may advertise their own tax free day as a promotion but what that means is that they will discount regular prices so that the sales price plus sales tax equals the normal posted price.

Example: If sales tax is 7%, something that costs $100 would cost $107 with tax. If the price is discounted to $93.46, when you add 7% tax, the cost is $100 even.

Answer 4

No, of course not. Sales tax free or not, you are still buying with after-tax dollars or after-stolen dollars.

Of course all this will be moot when the FairTax Act H.R. 25 passes and replaces all income taxes with a single sales tax on new items. The FairTax now has the support of hundreds of thousands, 72 congressional sponsors / co-sponsors, and 7 presidential candidates. See www DOT Fairtax DOT org

Answer 5

since the provision to expire in 2013 was not in the original legislation and there has been nothing stirring in Congress to change it, I guess you will wait with the rest of us to see if this happens

Answer 6

That would beup to your state. Texas is not doing a tax hoiliday.

Answer 7

depends upon your state