Best Bets for Holiday Shoppingtax news | December 09, 2014 | By Bob Williams
The Christmas shopping season has hit full-force. Even if you didn’t get out on Black Friday, there are plenty of deals still out there, to be sure. And speaking of deals, are you hoping to get a deal when it comes to paying sales tax on your holiday purchases?
Best of the Best
Accounting giant Wolters Kluwer CCH has assembled a list of states with the lowest sales taxes for your holiday shopping. Colorado easily leads that list, with a rate of just 2.9 percent. The rest of the pack is clustered around the 4 percent mark: Alabama, Georgia, Hawaii, Louisiana, New York, South Dakota, Wyoming, Missouri and Virginia.
A Bigger Bite
On the upper end, sales tax tops out between 6.5 percent and 7.5 percent. The highest states include: California, Indiana, Mississippi, New Jersey, Rhode Island, Tennessee, Minnesota, Nevada, Arkansas and Washington. The rest of the states fall somewhere in between, and five have no state sales tax at all.