The Tennessee Tax Free Weekend 2011 is upon us. Beginning Friday and running through Sunday, the Tax Free Holiday allows consumers to buy school supplies and clothing without the 9.25% sales tax. It also brings in increased business for local retailers.
Residents of Tennessee can take advantage of the Tax Free Holiday by purchasing up to $100 in clothing or school supplies without paying the sales tax. Also, computers $1,500 and under, are also valid to be purchased without sales tax. For questions regarding what items qualify as tax free, the Tennessee Department of Revenue provides a detailed list of items on their website.
During the weekend, customers are able to buy items needed for the back-to-school season at a price that is 10 percent cheaper. Many retailers also offer additional promos that give customers an even better discount than the item just being tax free.
This year will be the sixth annual Tax Free Weekend in Tennessee. It is expected to save shoppers between $8 million and $10 million. Last year customers saved $8.6 million. Back-to-school is the second biggest spending event for retailers, behind holiday shopping in December, bringing in S60.8 billion for retailers.
The Tax Free Holiday begins officially at 12:01 a.m. on Friday, August 5th and ends at 11:59 p.m. on Sunday, August 7th. Many retailers in Knoxville extend their hours for the weekend. West Town Mall and Knoxville Center Mall are open on Friday and Saturday from 9 a.m. to 10 p.m and on Sunday from 12 p.m. to 8 p.m. Tanger Outlets in Sevierville are open Friday and Saturday from 9 a.m. to 10 p.m and on Sunday from 10 a.m. to 7 p.m.
Sam’s Clubs in Knoxville will also allow non-members to shop at their stores this this weekend.
Tax Free Weekend is great for residents in Knoxville as well as Knoxville businesses. It happens the first weekend in August every year to allow residents a break from the high sales tax and allow them to purchase items that are needed for the going back to school.