Sales Tax Holiday Is This Weekend
Today through Sunday is a good time for back-to-school shopping since certain items will be exempt from state sales tax. KSMU's Missy Shelton reports.
Today through Sunday is a good time for back-to-school shopping since certain items will be exempt from state sales tax.
The annual sales tax holiday applies to clothing under 100 dollars, computers and school supplies like notebooks and pencils.
The state sales tax rate is four point 225 percent.
David Overfelt is president of the Missouri Retailers Association.
Overfelt says customers benefit from the tax break but he says it's good for Missouri businesses.
When you check your receipt this weekend, you may notice that you're being charged city and county sales tax. That's because local municipalities that have their own sales taxes can opt out of the sales tax holiday.
Nearly half of the counties and about a third of the cities will still charge taxes including the cities of Springfield, Nixa, Ozark and Branson and the counties of Greene, Taney and Christian.
Many local government officials say they can't afford to lose their tax revenue.
But tax holiday supporters say the idea is to attract shoppers who will purchase items not included in the sales tax holiday, items that are still subject to local and state sales tax.