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Quinn Signs School Supply Tax Break -- CLICK HERE TO FIND OUT WHAT QUALIFIES
Illinois shoppers will get a small sales tax break on back-to-school merchandise next month.

Gov. Pat Quinn Wednesday signed the sales tax holiday into law at the Sears store in downtown Chicago. The measure suspends the state's 5 percent sales tax from Aug. 6-15 on school-related supplies and apparel priced less than $100. Cities and counties, however, will still collect their sales tax.

This is Illinois' first sales tax holiday, though other states have done it.

David F. Vite of the Illinois Retail Merchants Association says stores will probably offer their own sweet deals during this time too.

Estimated revenue loss to the state is $25 million, though the governor hopes to make up some or all of that in other ways, such as increased employment, or greater corporate tax revenue if stores are more profitable.

The Illinois Department of Revenue has published a bulletin on what items qualify and what items do not qualify for the tax break, which can be found by CLICKING HERE (pdf document).

The measure signed into law today was sponsored by State Sen. Deanna Demuzio (D-Carlinville) and State Rep. Keith Farnham (D-Elgin).

(Illinois Radio Network)
07 07 10 by Newsroom
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