So What Can You Buy Tax-Free This Weekend?
This weekend is your opportunity to save some money on your purchases with Missouri’s 2019 Tax-Free Weekend. The queston is, how much can you really save?
The shopping period runs from 12:01 am Friday, August 2 through 11:59 pm Sunday, August 4. What you'll save is the Missouri sales tax which is 4.225%.
According to a story from The Penny Hoarder: "The National Retail Federation estimates the average household with kids in elementary through high school is expected to spend about $697 on new clothes, shoes, electronics and school supplies in 2019."
So the next question before you start shopping is what's included? According to the article the folllowing are included in the tax-free items during the weekend:
- Clothing and shoes — $100 or less per item.
- School supplies — $50 or less per purchase (exception: graphing calculators must be $150 or less).
- Computers and related equipment — $1,500 or less per item.
- Computer software — $350 or less.
According to the Missouri Department of Revenue website, the figures are pretty much the same. Some are just re-worded:
The 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 $1,500
- Computer peripheral devices – not to exceed $1,500
- Graphing Calculators - not to exceed $150
So now that you're loaded with the necessary information, happy shopping!