NC Tax Holiday Costly For State

North Carolina will lose millions in revenue next weekend when it suspends the sales tax on certain items for back-to-school goods.

The News & Observer of Raleigh reported that last year's tax holiday cost the state an estimated $12.3 million -- money that this year could help fill an $800 million budget deficit.

Democrat Rep. Pryor Gibson from Wadesboro said House budget-writers discussed ending the holiday. But Gibson, who is the House finance committee co-chairman, said it was a short debate that ended with the idea that tax relief for families was important.

Retailers say the weekend is like Christmas in August. Raleigh Mall manager Pat Anderson says shopping traffic increases more than 20 percent during the tax holiday compared with other summer weekends.

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