The Month of August is Tax-Free for Groceries
Memphis Cash Saver
Many of us have had to make some budget adjustments regarding the grocery portion of our bills lately. The inflation we are currently experiencing has not been seen in this nation in forty years. Not to mention prices at the pump are also at an all-time high.
Governor Bill Lee announced the proposal for a 30-day suspension of local and state grocery sales tax to provide direct financial relief to Tennesseans amidst surging inflation nationwide. The state lawmakers passed the particular item in the budget that suspends sales and state tax on most groceries for the entire month of August, beginning on August 1 and ending at 11:59 pm on August 31st.
The groceries are specifically for food and food ingredients and do not include the following:
- Alcoholic beverages
- Dietary supplements
- Prepared food
Typically, on a grocery bill of one hundred dollars, families save an average of ten dollars. Ten dollars may not seem like a lot to some, but it adds up and helps tremendously in our current economy. Tennessee also had its traditional sales tax holiday on school supplies, clothing, and computers over the last week of July.
What Does Tax-Free August Mean for Cash Saver?
Cash Saver is already one of the cheapest grocery stores in the city, even though we offer many local favorites. Our constant promise to you has been that you will save on groceries up and down every single aisle. Since Cash Saver is a cost-plus food outlet, we provide a whole new way to save on groceries in Memphis. We offer lower prices on every item, in every department, every day, and it is the BEST way to save money on your family’s food bill. With the tax deductions in place, this makes Cash Saver the bona fide cheapest grocery store in town. Stop in to see the savings from Cash Saver and stock up this August!
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