Anyone who buys a product labeled 'Energy Star' pays no sales tax.
A tax-free weekend is coming up in Maryland. From this Saturday, Feb. 16th at 12:01 AM through midnight on Monday, Feb. 18th, residents who purchase new appliances labeled as "Energy Star" won't have to pay the 6% Maryland sales tax. They include clothes washers, furnaces, solar water heaters and refrigerators. "Some of these machines cost $1,000, a good refrigerator, for instance," says Maryland Comptroller Peter Franchot. "Saving 6% on that is a good deal for the consumer, and increased sales for family-owned businesses."
Franchot will be in Hagerstown on Wednesday to promote the upcoming tax-free weekend. He'll be visiting Spichers Appliance at 12427 Pennsylvania Avenue.
Appliances labeled "Energy Star" are considered the most energy efficient, and will save consumers in the long run.
This is the third year for the Shop Maryland Energy. "I always give credit to the legislature which passed it three years ago, and they have not repealed it. Thank God! Because it's one of the few things we actually do for consumers who are hard pressed by the struggling economy right now," says Franchot.
He says Maryland's tax coffers will suffer a little as a result of this tax-free weekend. "The state loses approximately a half-million dollars in sales tax revenue, but trust me: the state budget has more than enough money to pay its bills," says Franchot. "What I'm concerned about as your comptroller is what your family budget is, and what the budgets of your family-owned small businesses are. Those are the budgets we're trying to help with this tax-free weekend."
For a complete list of exempt and taxable items, go to www.marylandtaxes.com.