If you’re a savvy shopper looking to save money, then you’ve probably heard about tax-free week in Maryland. This annual event is designed to provide a financial break to shoppers, especially parents, who are back-to-school shopping. During this week, certain items are tax-exempt, which means you’ll have an opportunity to save a significant amount of money. In this guide, we’ll provide you with all the information you need to know about tax-free week in Maryland, including the dates, the types of items that qualify, and tips for maximizing your savings.
Your Guide to Tax-Free Shopping in Maryland: What You Need to Know About Tax-Free Week
Tax-free week in Maryland is an annual event when certain items like clothing and footwear are exempt from the state’s 6% sales tax. The purpose of tax-free week is to provide shoppers with a financial break during back-to-school shopping. In Maryland, tax-free week typically occurs in August, right before the start of the school year.
To be eligible for the tax exemption, the item must cost $100 or less. Items above this price are still subject to the 6% sales tax. Additionally, only specific items qualify for the exemption, including:
- Clothing and footwear.
- Backpacks and bookbags (this includes diaper bags).
- Taxable and non-taxable school supplies (such as pens, pencils, crayons, binders, notebooks, textbooks, and more).
It’s important to note that not all items are tax-exempt during tax-free week, so it’s essential to check with retailers for qualifying items.
Mark Your Calendars: The Dates for Tax-Free Week in Maryland Announced!
The dates for tax-free week in Maryland are typically announced in the middle of July each year. According to the Comptroller of Maryland’s Office, tax-free week for 2022 will occur from Sunday, August 14 through Saturday, August 20. It’s crucial to note that the tax exemption applies for each item under $100, which means that you can make multiple purchases up to $100 per item and still be eligible for the tax exemption.
If you plan to take advantage of tax-free week, it’s essential to mark your calendars in advance. Retailers typically advertise special promotions and discounts during this event, which means that stores may be crowded. So, be sure to plan your shopping strategy ahead, and consider shopping early in the day to avoid crowds.
Save Big on Back-to-School Shopping With Tax-Free Week in Maryland
For parents, tax-free week in Maryland is a fantastic opportunity to save money on back-to-school shopping. With the tax exemption, parents can buy essential clothing, footwear, and school supplies without having to pay the sales tax. For example, a family spending $1,000 on back-to-school purchases could save up to $60 during tax-free week.
To make the most of tax-free week, parents should start by creating a shopping list of items they need to purchase. Look for promotional discounts and sale offers to help maximize your savings. Many retailers offer additional discounts during tax-free week, so it’s worth checking out stores’ websites or social media pages to see what’s on offer.
How to Maximize Your Savings During Tax-Free Week in Maryland
To make the most of tax-free week in Maryland, there are several strategies you can use to maximize your savings. First, start by creating a budget for your shopping trip. Consider how much you plan to spend and how much you can afford to save. Next, do your research and compare prices from different retailers. Take advantage of retailers offering discounts and promotions to get the best deals.
One way to save money is by purchasing items in bulk. Many back-to-school supplies like notebooks, binders, and pens can be bought in bulk at a reduced price. Finally, consider buying items online to avoid crowds and take advantage of exclusive online discounts and promotions.
A Quick Guide to Tax-Free Week: What Items Qualify and How You Can Save
During tax-free week in Maryland, many shopping items qualify for sales tax exemption, including:
- Clothing and footwear items priced at $100 or less per item.
- Backpacks and bookbags (including diaper bags) priced at $100 or less per item.
- Most school supplies priced at $100 or less per item.
To save money during tax-free week, compare prices from different stores. Many retailers offer promotions and coupons to attract shoppers during the tax-free week. Look out for ads and check retailers’ websites to see what deals they provide during the event.
Why Tax-Free Week in Maryland is the Perfect Time to Shop Local and Support Small Businesses
Aside from getting significant savings, tax-free week in Maryland is an excellent opportunity to support small businesses. Shopping locally during tax-free week means supporting small businesses in the state. Small stores create jobs in local communities, and by shopping with them, you’re contributing to the local economy.
To show support to the local community, you can ask small businesses about the tax-free week they offer. Also, consider shopping in-person rather than buying online. Shopping in-person gives you a unique experience to see things in person, ask for advice from the seller, and support the community.
Avoid the Crowds and Shop Online During Tax-Free Week in Maryland: Tips and Tricks
Shopping online is an excellent way to save money during tax-free week while avoiding crowds. The internet is packed with discounts and promotional deals, allowing you to maximize your savings. To get the best out of online shopping during tax-free week, try the following tips:
- Shop early in the day before the products you want are gone
- Browse through multiple sites and compare prices and reviews
- Look for retailers and brands that offer free shipping and returns
- Save items you want in your wishlist to see if their prices drop
- Use promo codes and coupons to get extra discounts
Tax-free week in Maryland is a fantastic opportunity for smart shoppers to save money on essential back-to-school items and other qualifying purchases. With this guide, you now have all the information you need to take advantage of tax-free week and maximize your savings. So, mark your calendars for upcoming tax-free week events in Maryland, and start planning how you can save money on your back-to-school shopping list.