A few days ago, my granddaughter went off to get her school supplies. It brought back many memories for me, both for myself and my children. More and more, states are opting to hold a "sales tax free" day to boost consumer spending. They figure the boost in sales will offset the loss in tax revenue. There's also a certain amount of "goodwill" generated in such a policy.

During the "dog days" of August, many states acknowledge the upcoming school year. SmartMoney says 15 states have some sort of Sales Tax "Holiday," allowing merchants to suspend sales taxes on back-to-school items.

If your business operates in a "sales tax holiday" state (listed in the SmartMoney article) and you're selling clothing, shoes, school supplies, books, computers, software, sports equipment, backpacks and many other items, you may be able to dispense with charging sales tax. Some states make a blanket statement that "tangible personal property" — except vehicles, meals and services is exempted.

Also note that the sales tax exemption also applies to in-state online sales.