Parents and students are always looking to save money during the back to school season. Missouri's annual Sales Tax Holiday offers one great way to do just that. Every year, in early August, you can save on clothes, computers and school supplies when the state and local governments waive all (or most) sales taxes. The tax holiday begins at midnight on Friday and goes until midnight on Sunday. In 2014, the dates are August 1, 2 and 3.
What is a Sales Tax Holiday?
The sales tax holiday is a three day period when the State of Missouri and many local communities stop collecting sales taxes on certain items. The holiday was designed to help parents save money on back to school shopping, but items you buy during the sales tax holiday don't have to be used for school. You can save a few bucks if you buy a new outfit or hundreds of dollars if you're purchasing a new laptop computer.
What is Exempted From Sales Tax?
Clothing - any article valued at $100 or less
School Supplies - must be under $50 per purchase
Personal Computers - valued at $3500 or less
Computer Software - valued at $350 or less
Other Computer Devices - valued at $3500 or less
Where to Save the Most Money
Before you head out on a shopping spree, keep in mind not all cities and counties participate in the Sales Tax Holiday. If you shop in one of these areas, you will not pay state sales tax, but will still be charged local taxes. So the biggest savings will be in communities that choose to waive their own local taxes as well. For a complete list of cities and counties that are not participating, go to the Missouri Department of Revenue's website.