2010 Texas Sales Tax Holiday

It is that time of year again – the annual Texas sales tax holiday held in Texas each August in conjunction with Back-to-School.  The break in taxes was originally started due to the surpluses the state was showing.  A little give back to the people who had contibuted via taxes.  Many other states also enacted such plans.  However, most states are now fiscally constrained and the sales tax holidays are not as prevalent.  Fortunately for Texans, the state continues to be relatively prosperous and the tax break continues.  For most in the sate, that means a savings of 6.25% to 8.25% by not having to pay taxes (on necessary items like clothes, shoes, etc. under $100).  Many stores also help spur spending by offering great sales.  One thing I like about this week is that Groupon offered a nationwide Gap Groupon (a $50 gift card for only $25 – a 50% savings).  Adding in the tax savings, it will be $25 well spent.