Tuesday, July 7, 2020

Two Tax Free Weekends Coming Soon


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Tennessee will have two sales tax holiday weekends this year with more tax free items on the list. 

If you're thinking of buying a new tv, computer, smart phone, etc. now would be a good time to start planning for this at the end of the month. 

Additional electronic devices, including TVs and smart phones, will be tax free during the back to school shopping weekend. Plus, they've added a tax holiday for restaurants.
The sales tax holiday on clothing, school supplies, and computers will take place July 31 through August 2.

The next weekend on August 7, the state begins a sales tax holiday to give restaurants a boost during the COVID19 pandemic. 

The latest figures on restaurant sales nationwide indicate business is currently down 60 percent.

2020 Restaurant Sales Tax Holiday

Begins: Friday, August 7
Ends: Sunday, August 9

Retail sale of food and drink by restaurants and limited service restaurants is exempt from sales tax.

For more information on what items will be exempt during these two weekends, you can visit the TN Department of Revenue website at this link.


Belinda
~ Living within our Means ~
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12 comments :

  1. Hello neighbor!
    I live in VA, but we go to the Smokies every summer, but I don't think we will this year which makes me sad.
    TN sales tax is high so those tax free weekends will save money.

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    1. Hi Kathy! Yes, sales tax is high here almost at 10%. I just read in the news that Gatlinburg has a big spike right now, so it's good that you won't be visiting this year. I know what you mean about being sad. I'm sad over yard sales this year. I really miss them. Virginia is beautiful country. It's nice to meet a neighbor. :)

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  2. WOW. that has never happened here. Would be nice for bigger ticket items.

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    1. Definitely, Cheryl. If someone wanted to buy a new computer the savings would make it worth it.

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  3. Wow, 60% I am so happy I am not in the industry. But maybe this will force more people to learn to cook. I like the idea of tax free weekends that is a smart strategy.

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    Replies
    1. I know I was thinking the same thing, 60% is a lot!

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  4. Thanks to your post I looked up FL tax holiday, and it hasn’t been announced yet. Last year it was in August, so I guess it will be the same this year.

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    1. Last year it was on us before I knew it, so I was happy to report it early this year. :)

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  5. Those are the two good chances to save. I wish AL would have some tax-free weekends.

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  6. I am really surprised they are going to do tax free weekend with the Covid spikes. I am sure some parents are super relieved while others are shaking their head no way, lol. I read this year that Black Friday is cancelled. They are still going to do Cyber Monday.

    I was out for essential shopping and saw all the school supplies being stocked at the stores. I thought to myself that a lot of parents are going to be super confused how to purchase supplies for those who are going to homeschool or find alternative education.

    I know my school district just released what parents will need this year and it was a large box of masks, five hand sanitizers per student, five wipes per student.

    I have been trying to eat out at restaurants to support them during Covid. I am looking for local restaurants. I know a couple of my old favorites had bad outbreaks. Now, I am leery of going out to eat.

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    1. Wow, I hadn't heard that about no black Friday. If I do buy anything for tax free weekend, it will be done online as the risks are not worth it to me to shop in the store.

      Our school district said yesterday that they are going to open on August 10th and that masks are optional. Ugh. I just can't imagine what the future holds with that in place.

      We are leery of going out to eat too, but have picked up food and had it placed in our trunk and came home and sanitized the containers. It's such a drastic change from 6 months ago.

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