When school rolls around, the cost of supplies like pencils, paper, backpacks, and computers can start to add up. Import duties can contribute to price increases, which may not seem significant for individual items, but the overall total can be higher than expected. Experts advise that the best strategy to manage these costs is to start shopping early and consider purchasing less expensive items. We spoke with a professor who noted that electronic devices, particularly computers and iPads, are likely to face the biggest price hikes.
Video above: Shopping back to school could become more expensive this year in Arkansas (July 15th). Arkansas’ tax-free weekend is approaching, happening on August 2nd and 3rd. During this weekend, certain products will be exempt from state and local sales taxes. The Arkansas state sales tax is 6.25%, and many counties and cities impose additional taxes, making the average combined tax rate around 9.46%. For instance, if tax on a $50 item is usually, let’s say, $4.73, it would be just $50 during the tax holiday, according to data from the Tax Foundation.
Arkansas’ tax-free weekend allows for exemptions on specific items, including:
- Clothing and footwear priced under $100
- Clothing accessories and equipment priced under $50
- School supplies
- School art supplies
- School guidance materials
The state provides clear definitions for what qualifies, and this can be a helpful guideline for families looking to save.
