Store Maryland Tax-Free Week kicks off this Sunday with huge financial savings for customers in want of a brand new wardrobe for college, work, spending time outdoors or simply hanging round the home.
“Store Maryland Tax-Free Week is the annual reminder that summer time is drawing to an finish and children will quickly return to school rooms,” Comptroller Peter Franchot stated. “I encourage all Marylanders to make the most of decreased costs and assist native retailers all through our nice state.”
In the course of the annual end-of-summer custom, which runs by way of Saturday, August 20, any single qualifying article of clothes or footwear priced $100 or much less – no matter what number of gadgets are bought in the identical transaction – can be exempt from the state’s six p.c gross sales tax. The primary $40 of any backpack buy can also be tax free.
The week is especially crucial to locally-owned retailers who rely on elevated gross sales to make it by way of the gradual summer time season. Many shops supply extra reductions on prime of the tax financial savings to entity extra prospects.
“Tax-free week is a superb time to avoid wasting further on clothes, footwear and backpacks,” stated Cailey Locklair, president of the Maryland Retailers Affiliation. “Shops can be providing glorious offers you will not need to miss. We can not stress sufficient the significance of supporting your native brick and mortar shops who make use of Marylanders, present a lot wanted tax income to our state and stabilize our communities.”
Go to the Comptroller’s web site for a listing of tax-exempt gadgets, steadily requested questions, and useful details for consumers and retailers. The Comptroller’s social media pages will promote the particular financial savings week, showcasing native retailers and encourage consumers to make the most of the promotion.