CTFCU Blog

A Full Guide to Tax-Free Weekend

Written by August | Jul 31, 2024 8:33:11 PM

With the start of a new school year right around the corner, it's time to start filling the cart with back-to-school items. If the rows and rows of school supplies at Walmart and Target haven't already sucked you in, then Tax-Free Weekend is the perfect time to grab some of the key items on your list.

What is Tax-Free Weekend?

If you're unfamiliar with Tax-Free Weekend, now is the perfect time to jump on the bandwagon. From August 2nd-5th, the state of South Carolina has a tax holiday that allows resident and nonresident shoppers to purchase certain items tax-free. Remember that eligible items are still tax-free if you shop online, so check with your local retailer to see if they offer online shopping, delivery, or curbside pick-up.

What Items Are Included In Tax-Free Weekend?

The tax holiday applies to certain items such as supplies used for school assignments, apparel, electronics, and bed and bath items. Click here for a complete list of all things that will be tax-exempt.

How to Shop Like A Pro

Although Tax-Free Weekend is a great time to get deals on some of the back-to-school items you'll need, there are a few things you'll want to keep in mind to get the most bang for your buck.

1. Make a List

If you're like me, it's sometimes easy to get carried away when you know you're getting a good deal. If you don't come prepared, you may spend more than you intended. Since the tax-free exemption is limited to specific items, make a list of qualifying items that you need, and limit yourself to only buying those.

2. Arrive Early

Like you, most other shoppers will use Tax-Free Weekend as a time to stock up on exempt items. Try to get to your favorite stores early to ensure that the things you want to purchase are still in stock.

3. Price Match

Try price matching if you don't want the hassle of going from store to store. Price Matching can cut your shopping time and help you get everything you need in one place! Click here for a list of major retailers who will price match competitors.

4. Think of Things You'll Need In the Future

Remember, Tax-Free Weekend doesn't have to be just for back-to-school items. Plan ahead and purchase other tax-exempt items you know you will need during the year. Items like linens and home office supplies are great purchases for tax-free weekends. Why not grab them while you can get them on sale?

5. Stock Up for the Year, Not Just the First Day

Of course, everyone looks forward to a new outfit on the first day of school, but take time to shop for all clothing necessities. Think of clothing items you may need throughout the year (pajamas, rain boots, winter coats, etc.) and grab them while they're tax-free.

 

Check out the South Carolina Department of Revenue's Tax-Free Weekend video for additional tools and tips: