KANSAS CITY, Mo. - If you're looking to save some money on back-to-school shopping, this is your weekend.
Missouri's sales tax holiday is August 2-4. Most state and local taxes will be waived on the sales of computers, computer software, school supplies, clothing and footwear.
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 $3,500
• Computer peripheral devices – not to exceed $3,500
According to the National Retail Federation, apparel and shoes consume more than half of U.S. families' back-to-school budgets. The trade group's annual back-to-school survey, released last week, predicts that U.S. families with school-age children will spend an average of $634.78 this year, including $345.24 on new clothes and shoes.
Walmart alone expects to sell 42 million boxes of crayons.
According to a National Retail Federation survey, 77 percent of families with school-aged children said the U.S. economy will impact their 2013 back-to-school spending plans.
For more information, visit http://bit.ly/bnul3L.