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Friday, August 6, 2010

Back to School Tax Holiday

Today starts the Back to School State Tax Holiday's in both Missouri and Illinois.

Missouri - Today through Sunday August 8th

Sales tax exemption is limited to:
•Clothing – any article having a taxable value of $100 or less
•School supplies – not to exceed $50 per purchase
•Computer software – taxable value of $350 or less
•Personal computers – not to exceed $3,500
•Computer peripheral devices – not to exceed $3,500

Even though the state is waiving their 4.225% portion of sale tax, not all cites or counties are waiving theirs.

Check out which cites and counties are not participating in the tax holiday.


Illinois - Today through Sunday August 15th

Sales tax exception limited to:
•Clothing – Retail selling price must be less than $100
•School supplies – Must be used by students in the course of study

The 5% state sale tax will be waived, but local governments sales taxes will continue to be collected.

Check out the extensive list qualifying and non-qualifying items.

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