Back To School Tax Holiday is underway | | metropolisplanet.com

2022-08-13 05:17:24 By : Mr. JIANCHAO XU

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The state’s Back to School tax holiday kicked off Friday, Aug. 5, and runs through Sunday, Aug. 14.

The 10-day sales tax holiday — the first for Illinois in over a decade — was created to save families $50 million on school supplies and is part of the $1.8 billion Illinois Family Relief Plan, with relief on gas, property taxes and groceries.

Beginning Aug. 5, the state sales tax on school supplies will drop from 6.25% to 1.25%. Eligible items include qualifying clothing and footwear such as school uniforms, coats, sneakers, rainwear and inter gear with a retail selling price of less than $125 per item. Eligible school supplies including book bags, calculators, and other items used by students for studying are not subject to the $125 threshold.

Teachers are also able to take advantage of the tax holiday, saving money on classroom supplies, including blackboard chalk, binders, index cards, writing tablets and more. Teachers can also receive an income tax credit up to $250 for school supplies purchased for their classrooms.

A Deloitte survey estimated that parents/guardians spend an average of $661 per child during the back to school shopping season. With inflation continuing to impact the lives of Illinoisans across the state, the sales tax holiday will allow Illinois families to shop for back to school supplies at a lower cost, reducing expenses during a high-spend time for most families.

“Families across Illinois are continuing to struggle post pandemic,” said State Sen. Michael E. Hastings (D-Frankfort). “I am proud that the legislature and the governor were able to work together to provide much needed assistance, especially right before school starts.”

Additional resources for retailers, including a complete list of qualifying items, may be found on the Illinois Department of Revenue’s website tax.illinois.gov. Taxpayer representatives can also answer questions and provide assistance at 1-800-732-8866 or 217-782-3336.

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