MADISON, Wis. (7/30/15)--Credit union leagues are offering consumers advice on making the most of their tax-free-holiday spending for back-to-school shopping.
Seventeen states are participating in a tax-free holiday this year, said the Federation of Tax Administrators (Bankrate.com July 29). The Ohio Credit Union League and Georgia Credit Union Affiliates (GCUA) provided tips for consumers in their states.
Nearly half of Georgia consumers schedule their back-to-school shopping around tax holidays, said GCUA in its monthly “Consider This,” featured on Patch.com (July 12). GCUA’s Mid-Year 2015 Consumer Survey indicates that 46% of state respondents plan to take advantage of the tax-free holiday. Also, 51% of Georgia respondents prefer to buy school supplies on an as-needed basis while 42% stock up when they run across a bargain.
Parents and educators should shop wisely and not wait until the last minute, said Stephen Smith, president/CEO of Fulton Teachers’ CU, Hapeville, Ga. “The tax-free holiday is a great time for members to save additional dollars,” he told GCUA.
In Ohio, 70% of the state’s consumers plan their back-to-school shopping around store sales, said the Ohio league’s 2015 Consumer Survey, which was cited in the lead paragraph of My Daily Tribune (July 11).
The leagues directed consumers to www.aSmarterChoice.org and gave this advice:
Participating states will offer tax breaks on items such as computers, school supplies, clothing and books. States have varying price caps placed on individual items. States participating include: Alabama, Arkansas, Connecticut, Florida, Georgia, Iowa, Louisiana, Maryland, Mississippi, Missouri, Ohio, Oklahoma, New Mexico, South Carolina, Tennessee, Texas and Virginia. Massachusetts is also expected to approve a sales-tax holiday in August, said Bankrate.com.