BLACKSBURG, Va. – Virginia is one of 16 states having a tax-free weekend this year. It starts Friday and goes until Sunday, but doesn’t mean everything you buy is tax-free.
Even though the country is more virtual now, for Virginia, computer software and other technology won’t be tax-free.
Rajesh Bagchi, marketing professor and department head at Virginia Tech’s Pamplin College of Business says the tax holiday is intended to be a win-win for everyone involved.
“One (purpose) is to keep the money in the community and find ways for shoppers to come out and retailers to keep the money but also to help out shoppers who are in dire need. Things like emergency preparedness we all need that and also education for our children those are two critical things,” said Bagchi.
Bagchi said you can get items tax-free online too, but you have to make sure the company processes your order before the tax holiday is over.
For shoppers, the Virginia Department of Taxation says you can save between 5.3% to 7% when you purchase those qualified items.
Bagchi said this weekend is a way to encourage small business shopping and a chance for local businesses to show how in touch they are with the community and its needs.
“A lot of people have now shifted their buying to places like Amazon; they’re seeing a significant surge in sales and revenues while the local retailers are really struggling. So for the retailer, this provides a wonderful opportunity to showcase what they have,” Bachi said.
For more information on Virginia’s Tax Holiday, click here.