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Illinois' First Sales Tax Holiday Approaching
Back to school shoppers are being encouraged to stock up between Friday the 6th and August 15. Illinois is having its first sales tax holiday.

School supplies (but not computers) and all clothing (including shoes) under $100 are included. The state will not collect the 5 percent sales tax on those items, though local sales taxes still will apply. The hope is that people purchase other items while they're at it, or use their savings to go out to lunch, for example.

David Vite, president of the Illinois Retail Merchants Association, says stores just inside Illinois' borders should be especially busy. He says research disproves any concern that the state is giving up tax revenue it cannot afford to lose. Vite says Florida made more money, through various offsets, in years in which it had a holiday. That state lost money when it suspended the holiday.

(Illinois Radio Network)
08 05 10 by Newsroom
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