Virginia’s annual sales tax holiday is coming to an end this Sunday. The holiday allows shoppers to purchase school supplies, clothing, and other items without paying the state’s sales tax. This year, the holiday started on Friday and will run until Sunday, giving residents just a few more days to take advantage of the savings.
During the sales tax holiday, shoppers can save money on a variety of items, including clothing and footwear that cost $100 or less per item, school supplies that cost $20 or less per item, and Energy Star and WaterSense products that cost $2,500 or less per item. This provides an opportunity for both parents shopping for back-to-school items and homeowners looking to upgrade their appliances to save some extra cash.
With the cost of school supplies and clothing continuing to rise, the sales tax holiday offers a welcome relief for many families who are trying to stretch their budgets. It also encourages consumers to support local businesses, as shoppers are more likely to make purchases when they know they can save money on sales tax.
While the sales tax holiday provides benefits for consumers, some critics argue that it can have negative impacts on the state’s tax revenue. However, supporters of the holiday argue that the boost in consumer spending during the tax-free weekend can stimulate the economy and offset any losses in tax revenue.
As the sales tax holiday comes to a close this Sunday, shoppers are encouraged to take advantage of the savings while they can. Whether stocking up on school supplies, refreshing their wardrobe, or making home improvements, now is the time to make those purchases without the added cost of sales tax.
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