Missourians can save some money while shopping during this weekend’s Back to School sales tax holiday underway. Dave Overfelt, President of the Missouri Retailers Association, says shoppers will not have to pay state sales tax for clothing, computers and school supplies with certain value limits. Some municipalities might still charge local sales tax.
“It is a very popular weekend for a number of back to school shoppers. The larger family with a couple of kids going into high school and maybe one going to college, the holiday can save some money, especially at stores that want to promote holiday sales,” he says.
Overfelt tells Missourinet the state’s retailers are geared up for a big weekend.
“The holiday is a great thing to get people out into the local stores and purchasing locally over internet warehouses,” Overfelt says. “It’s a big deal for the stores to participate and really promote it and have sales and promote to get people to come into the store.”
Many student head back to school in mid-August.
“I think by having it this first weekend in August, kind of gives us a little one up on other states that we might be competing with,” Overfelt says.
He says the exemptions offset themselves.
“The Department of Revenue has always concluded that the sales tax holiday does not hurt or help the revenue for that quarter,” Overfelt says. “It really has no impact on the state budget.”
• An article of clothing cannot exceed a taxable value of $100.
• School supplies are not to exceed $50 per purchase and graphing calculators are not to exceed $150.
• Computer software cannot exceed a taxable value of $350 and personal computers or computer peripheral devices cannot exceed $1,500.
Missouri’s back-to-school sales tax-free weekend was established by the legislature in 2004.
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