Tax Free Holiday Weekend Underway for Shoppers in 12 States

It’s summer which means it’s a good time for beach vacations, barbecues with family and friends, and even a better time for some back to school shopping. A dozen U.S. states are hosting a tax-free holiday weekend starting Friday, giving shoppers incentives to spend more. The 12 states participating in the tax break this weekend include Alabama, Florida, Iowa, Louisiana, Missouri, New Mexico, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. In two other states, Maryland and Connecticut, the shopping spree is scheduled to last for a whole week starting next week and the week after that, respectively. States are cutting taxes on certain qualifying items including clothing and footwear, computers, and school supplies among others. However, there is a limit on how much you can spend on one item and still save on sales taxes, according to each state’s rules. TheStreet's Kurumi Fukushima reports in New York.