Quick quiz: Name a holiday that doesn't cause stress and that may actually save you a few bucks.
Answer: Connecticut's annual sales tax holiday, that glorious week each summer when many clothing and footwear purchases are exempt from the state’s 6.35 percent sales tax.
This year’s sales tax holiday runs Sunday, Aug. 19 through Saturday, Aug. 25.
With the school year on the horizon, thrifty shoppers should be out in force this week, and are expected to benefit from approximately $4.8 million in sales and tax savings.
The tax holiday works out well for retailers, too, of course, as deal-seekers flood stores across the state.
It's a win-win.
"Sales Tax Free Week has become an anticipated tradition in Connecticut, offering savings on a variety of clothing and footwear purchases at a time of year when families do their back-to-school shopping," said Connecticut Department of Revenue Services Commissioner Scott Jackson. "Sales Tax Free Week is a great platform to promote Connecticut’s retail sector, and an opportunity for shoppers to take advantage of savings and incentives."
According to the National Retail Federation Back-to School Spending Survey, total spending for K-12 schools and college combined is projected to reach $82.8 billion this year, nearly as high as 2017’s $83.6 billion.
The survey determined that K-12 back-to-school shoppers planned to spend the most on clothing ($236.90). They also were looking to buy electronics, to the tune of $187.10, shoes ($138.66) and various school supplies ($122.13).
Meanwhile, back-to-college shoppers planned to spend $229.21 on electronics, $153.32 on clothing and accessories, and $109.29 on dorm/apartment furnishings.
This time of year can certainly get pricey for families.
This would be a good week to find some deals.