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Friday, July 27, 2012

Small Steps to Build the Economy

From the desk of Senator David Pearce

Navigating the obstacle course of a downturned economy is difficult, to say the least. I know many people in the 31st District and across the state are preparing for back-to-school shopping and the crunch on the wallet that comes with it. However, Missouri does offer a program that can help alleviate at least some of the stress that comes with sending kids back to school.

The Back to School Sales Tax Holiday, as the name implies, is a three-day period during which certain back-to-school purchases are exempt from sales tax. The dates for the 2012 event are Friday, Aug. 3, through Sunday, Aug. 5. Items typically included are clothing, school supplies, computers, and some computer accessories.

By visiting the Missouri Department of Revenue’s (DOR) website (follow the link above or visitwww.dor.mo.gov/business/sales/taxholiday/schools), you can view a complete list of items, as well as the maximum value per item that the tax holiday covers. For example, the cost of a single article of clothing cannot cost more than $100, personal computers cannot exceed $3,500, and software for computers tops out at $350.

The statute that creates this tax holiday does allow cities, counties, and districts to choose whether or not they will participate in the event. Every county in the 31st Senatorial District is participating, however your city or community may not be. Please check the website (see above) to verify that the community where you plan to shop has not chosen to opt out of the tax exemption.

If Missourians can save a few dollars that can possibly be reinvested in other ways, the cycle of the economy is fed and small steps are taken to repair and rebuild our state’s economy. In the precarious position we find ourselves in these days, those small steps can make a big difference.

If you have any questions regarding the 2012 Back to School Tax Holiday, please visit the website, or contact DOR via e-mail at salesuse@dor.mo.gov.

As always, please feel free to contact me or my staff with any questions or concerns at any time. We look forward to hearing your comments and suggestions and trying to answer any questions you may have. You can reach us by phone at 866-277-0882 (toll-free) or 573-751-2272, or by fax at 573-526-7381.

Senator David Pearce serves Bates, Cass, Johnson and Vernon counties in the 31st State Senatorial District.

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