I don't know if it works the same in other states....but here in Illinois, the districts get their funding based on daily attendance. That's the main reason they don't like kids to be pulled out for "unneccessary" reasons (like vacations)...
We have taken the kids on vacations during school, at the most 5 days. That was in '05 to go to WDW. The following June '06 I pulled them out the last three days of the school year to go up to Wisconsin, and they made me sign a form that said it was vacation and the kids would be back in the fall....I thought it was very odd. Earlier that year my DD had pnuemonia and missed like 10 days of school total, so I think that was a factor....it must have been some sort of justification for the State.
Anyway, this year we are going Thanksgiving week.... our district schedules P/T conferences on M/T, Wednesday - Fri are holidays. So we're blowing off the P/T conference....Bad mommy. Plus on top of that, we're pulling them out Thursday, Friday the week before to drive down, and also Monday on the return trip. So they'll miss three official days.... can't wait for that reaction.
I figure, ok to do it while they're young, my 5th grader has the ability to easily catch up the missed stuff, pretty soon she won't want to be seen with us.
On a side note I once missed a week during high school to go to Hawaii with my family, it was mid February. I had a note 2 weeks ahead of time and had all the teachers sign it. At the end of the year my U.S. History teacher tried to fail me for having too many abscences....good thing I had that note...she didn't give me any make-up work and the principal took my side. Never did like her....scary that I still remember that.
I don't think I'll pull them out in high school...to many issues.