Sales Tax Holiday different in each state
HANNIBAL, Mo. (WGEM) School registration is in full swing across the Tri States, and once parents have school lists in hand, it time to do their back to school shopping.The sales tax holiday is designed to offer a break to shoppers and boost sales for stores, but to get the most for your money you need to know that the tax exemptions vary in Illinois, Missouri, and Iowa, and not everything is eligible for the savings.”I think the sales tax holiday is a very positive thing. A lot of people plan their back to school shopping around this,” said Wes Mitchell, Catalog Supervisor for the JCPenny in Hannibal.Ariel Bock is already scoping out what she might buy this weekend, and she plans to spend quite a bit.”Probably a lot. Probably $300 worth. That how much I usually spend on clothes and stuff when I go back to school. I spend quite a lot during this time,” said Bock.This weekend in Missouri not only is there no state tax, certain cities including Hannibal are waiving local taxes as well. You can save money on clothes,
shoes, and underwear, but if any one item is more than $100 it doesn qualify. Same with school supplies. You only pay taxes on items that cost more than $50. Missouri is also the only state where computers and printers less than $3,500 are eligible.”Almost everything in the entire store will be eligible so you add that up, you have several kids, that percent is going to add up to a significant savings,” said Mitchell.Illinois sales tax holiday lasts longer, from the 6th to the 15th, but you still have to pay the local tax. In Quincy, that 2.75 percent. Clothing, underwear and shoes are all eligible along with school supplies, but accessories like jewelry and handbags as well as electronics are excluded.And in Iowa you can only save this Friday August 6 and Saturday August 7. There no local tax, but while clothing items and shoes less than $100 are eligible,
school supplies including backpacks aren Accessories and electronics are also excluded.