Connecticut is on a fiscal diet this week, forgoing $7 million to $8 million in sales tax revenue as its “back to school” program kicks off. Tax-free shopping began Sunday and runs through Saturday, Aug. 24.
Most individual items of clothing and footwear priced under $300 will have no sales or use tax.
Connecticut Retail Merchants Association (CRMA) President Tim Phelan said a national survey indicates clothing purchases will represent the largest portion of parents’ back-to-school budgets and the tax-free week will allow merchants to help shoppers get the most for their money.
“CRMA views the sales tax-free week as a win-win for all parties,” said Phelan.
“This week-long sales tax holiday makes back-to-school shopping a little bit easier for working families, while also helping retailers boost their bottom line,” said Gov. Dannel Malloy, who held an event at a clothing retailer in Bristol to begin the week. “Many stores also plan sales and discounts to coincide with this week, which allows consumers to stretch their hard-earned money a little further.”
“Getting students ready to return to school can often be a stressful time on a family’s budget,” said Lt. Gov. Nancy Wyman. “This week is designed to give our families some relief at a time when it is truly needed, and I encourage them to take advantage of it.”