Shoppers, retailers prepare for weekend without taxes

August 4, 2010 3:50:13 PM PDT
Back to school shoppers will flood stores across North Carolina this weekend to take advantage of the sales tax holiday.

At a time when many families are struggling financially, every bit of savings helps.

And stores have already begun to put up signs to advertise the savings.

Sarah Murphy, a high school senior, shopped with her friends Wednesday, but plans on coming back this weekend in time for the tax free sales.

"Probably gonna shop," Murphy said. "Maybe buy some clothes, maybe some school supplies."

Some of the items shoppers can save on include clothing up to $100, up to $50 on sporting and recreation equipment and up to $100 on school supplies.

But the really big ticket item to save on are computers. At stores such as Best Buy, shoppers can save up to $3,500.

While the sale might mean saving for consumers, NC State economics Professor answers the question, what's the cost to the state?

"We actually think it loses money for the state," he said. "My estimate is North Carolina loses around $100 million."

He says while retailers might make a little more money this weekend, the loss of state tax dollars could prompt lawmakers to cancel next year's holiday.

"Some states are considering it," Walden said. "And I think it's likely NC will revisit this and see if it's a good idea."

But for now, the sales are still on.

They will run this Friday morning through midnight Sunday.

To see a list of all merchandise that applies to the tax free weekend, visit http://www.dor.state.nc.us/aboutus/education/salestax_holiday.html.


Load Comments