According to the U.S. Census Bureau, back-to-schoolbrshoppers spent an estimated $7.7 billion at family clothing stores like Gap andbrBanana Republic in 2011. Factoring in an estimated $2.4 billion spent at bookstores,brthe total makes August the second-largest shopping season of the year behindbrthe Christmas holidays.
In an effortbrto stimulate the economy, Texas is among a group of 17 states includingbrConnecticut, Florida, Virginia and Oklahoma that incorporate a tax-free weekendfor back-to-school shopping. Legislators have brought the weekend a littlebrearlier this year, allowing area retailers and anxious shoppers to mark thebrweekend of Friday, Aug. 9 through Sunday, Aug. 11 on theirbrcalendars. Southlake Town Square is already preparing for an increase inbrshoppers.
“We expectbrour normal foot traffic to double during the course of the tax-free weekend,” saysbrKarla Chase, marketing director for Southlake Town Square.
The three-daybrtax holiday gives Texas shoppers a break as they shop for school supplies andbrclothing for the new school year. As in years past, the law exempts mostbrclothing, footwear, school supplies and backpacks priced under $100 from salesbrand use taxes, adding an additional eight percent savings onto alreadybradvertised sale prices.
For thosebrnot wanting to brave the heat or the crowds, it's good to know that all salesbrof qualifying items made during the holiday period, including those sold online,brwill also be tax-free.