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Back to School Savings

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In the run-up to back-to-school (about five weeks away, parents! Hang in there!) 17 states that ordinarily have sales tax will be suspending the tax on certain categories of merchandise. Yes, tax-free shopping for back to school has arrived. According to Forbes: "The average family will spend $606 on back-to-school shopping for K-12 students this year, up from $549 last year, according to the National Retail Federation. In fact, back-to-school is the second-biggest consumer spending event for retailers, behind the winter holidays." Mississippi will be the first state to press pause on sales tax, starting this Friday, July 30, for two days when clothing priced under $100 will be tax-free. [Forbes]