With back to school season right around the corner, the student in your life may be eager to pack their backpack and get ready for the year ahead. But for parents and guardians, while exciting, this time of year can also bring about some serious strains on the family budget. We all want the students in our lives to have access to all the tools they need to thrive. That being said, at a time when money is tight, it can be difficult to navigate how ends will possibly meet. With the majority of families living paycheck to paycheck, added expenses can prove tough to even the strictest budget. Thankfully, however, the State of NJ is here with some much-needed relief to help make this the best school year yet.
To help make the new school year easier on the family budget, New Jersey has officially announced a tax holiday for all of the must-need items for this back to school season. What does a tax holiday entail? A tax holiday is a temporary reduction or suspension of state and local sales tax on certain items. This allows families to get their hands on the supplies they need without having to worry about the additional costs that From August 26th through September 4th, New Jersey will be suspending sales tax on top tech, tools, and gear for the upcoming school year. Some of the categories covered include:
- Certain computers: computer with a sales price of less than $3,000. NOTE: “Computers” means electronic devices that accept information in digital or similar form and manipulate it for a result based on a sequence of instructions. “Electronic” means related to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. Computers with a sales price greater than or equal to $3,000 remain subject to tax during the Sales Tax Holiday.
- School Art Supplies: paintbrushes, paints, clay, glazes, watercolors, etc.
- School Computer Supplies: computer printers, printer supplies (ink, printer paper, etc.), handheld electronic schedulers, etc.
- School Instructional Materials: reference books, workbooks, textbooks, reference maps, etc.
- School Supplies: binders, composition books, pens, pencils, rulers, scissors, crayons, backpacks, blackboard chalk, glue, paste, pencil sharpeners, calculators, etc.
- Sports or Recreational Equipment: gloves (baseball, hockey, bowling, etc.), dance shoes, skates, shin guards, skis, life preservers, athletic shoes, etc.
For a comprehensive list of tax-free items and further details on the tax holiday, please visit the NJ Division of Taxation’s website here: NJ Div. on Taxation – Tax Holiday.
With the introduction of this impactful initiative, families all throughout the Capital City and beyond will now enjoy some much-needed relief from this year’s back to school expenses. And when our students come prepared, there’s no telling what incredible things they’ll be able to achieve. Here’s to the best school year yet!