Updated: Jun 26
July 22, 2022 | njspotlightnews.org
Later this summer, consumers across New Jersey will be able to take advantage of a temporary “back-to-school” sales-tax break as they stock up on items like notebooks, pencils and art supplies.
Lawmakers have touted the tax holiday, which will span 10 days beginning in late August, as a meaningful response to rising inflation, which has soared across the United States to rates not seen in decades.
NJ SEED: This year parents are expected to spend nearly $270 per child on back-to-school supplies and will welcome a sales tax break. These tax holidays are increasingly popular annual events throughout the nation. Critics point out that they tend to favor the wealthy and suggest that targeted relief such as tax credits of low-wage earners would be better option. This year it looks like inflation may outpace tax holiday savings.