U.S. Celebrates Tax Free Weekend 2010

August 7th, 2010 - 9:48 pm ICT by GD  

By Gina Gomez
taxAug 7 (THAINDIAN NEWS) United States Of America’s retailers have announced their respective tax free holidays as they have suspended sales taxes on consumer goods. The recent suspension of sales tax has attracted many buyers as they flocked in different stores to buy items for themselves. The tax free weekend is celebrated at different states in different date. Like Alabama is offering their tax free dates on August 6 to August 10 and Connecticut will celebrate it from August 15 to August 25 and so on.

In Alabama the sales apply to clothing under $100, school garments under $50, study materials under $30 and gazettes under $750. The sales tax holidays are popular among retailers, as these holidays boost in sales without giving up any revenue. Different shop owners have reported that last year the stores saw a boost of about 20% in sales during the tax free weekend which earned them much profit. Illinois Governor Pat Quinn was excited about his state’s first sales tax holiday, in law signing ceremony last month he said that the tax free weekends are designed to get the customers back in marketplace which ultimately helps to uplift economic condition.

J. Craig Shearman of National Retail Foundation said that he supports tax holidays as these holidays attract customers even at the time of recession. However, the Center on Budget and Policy Priorities do not agree to this tax free holidays as it feels that the holidays cause people to decrease state revenues. Whatever may be the calculations, tax free weekends are the best time for the buyers as they can buy their coveted things at a very low prize without paying the sales tax.

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