What’s tax-free in The Mid-South this weekend
Happy Friyay #HappyFriyay
The time to save is now as tax-free weekends begin in the MidSouth. Tennessee and Mississippi tax-free weekend began Friday. Arkansas follows on Saturday.
This year, shoppers in Tennessee can save double. For the first time, the state will offer two tax-free weekends.
From 7/31 to 8/2, people in Tennessee will not have to pay taxes on clothing, school supplies and select electronics. Next week, 8/7 to 8/9, food and drinks at restaurants will be tax-free.
In addition to the added weekend for restaurants, in Tennessee people can spend twice as much this year without being taxed.
“This year is a lot different from previous years. We know that people have much more financial strain due to the pandemic so the fact that you can save money this weekend on a lot of purchases is key,” Samantha Singer, Tenn. Dept. of Revenue Public Information Officer, said.
For past tax-free weekends, shoppers could buy clothing and school supplies individually under $100 and not pay taxes. This year it has been increased to $200.
Electronics were previously capped at $1,500. This year people can spend $3,000 without taxes. For the first time, cell phones and TVs qualify. Computers, laptops, printers, headphones and speakers also count.
For perspective on savings, the tax rate in Shelby County is 9.75%.
“This year with a lot of students learning at home, virtual learning, if a parent is thinking well maybe I should buy a new laptop? This is the weekend to do it because you can purchase a lap top up to $3,000 and then save nearly ten percent,” Singer said.
In Tennessee, tax-free weekend runs through Sunday at midnight. Online purchases will also register as tax-free.
For more details on what is tax-free in Tennessee, click here.
Mississippi’s tax-free weekend runs through the end of Saturday. There the threshold for spending is $100. More details on what qualifies can be found here.
Arkansas’ tax-free weekend begins Saturday through Sunday. The spending cap is also $100 for individual items. Details here.