DURANT, Okla. -- Texas residents have enjoyed the benefits of the sales tax holiday for several years. In August, Oklahoma residents will get that same oppportunity. This year, thanks in part to State Sen. Jay Paul Gumm (D-Durant), Oklahomans will not have to cross the Red River in order to be exempt from certain items at the store.
The Tax Free Weekend for Oklahoma will run from August 3-5. In Texas, the Holiday will be two weekends later, August 17-19.
In Texas, Law-Away plans can be used to take advatage of the tax-free weekend. The law exempts most clothing and footwear priced under $100 from sales and use taxes. It could save you about $8 for every $100 you spend on these tax-free items.
But the list is complicated. If you go to buy a coat or certain baseball hats, you will not have to pay tax. But, certain backpacks (which you think would be tax free) do not fall under the "exempt" status. For example, backpacks only for use by students in elementary and secondary students will be tax free.
To sort all this mess out, check out: http://www.window.state.tx.us/taxinfo/taxpubs/tx98_490/tx98_490.html
We will have Sen. Gumm LIVE in our studio on First News AM to talk about the Oklahoma side of things. And then join us again at Noon. We will be LIVE in Oklahoma at a store to showcase the tax-free items.