August 5, 2010

Illinois Sales Tax Holiday (August 6 - 15): Print Out. Map Out. Get Out.

It's finally here! The highly anticipated, first ever, Illinois Sales Tax Holiday officially starts tomorrow and runs through August 15th. That's right. TEN days of savings!

First, let's go over a couple details:

1. The reduced tax rate will be a result of the temporary elimination of the 5% state sales tax. This means the tax rate will be 4.75% in the city of Chicago and 1.25% to 2% in the suburbs.

2. The sales tax holiday only applies to a specific list of items, some of which have to be priced under $100 to qualify. (Click here to view the complete list)

The 5% reduction in sales tax may not make a significant impact on your shopping bill. However, let's face it, every little bit counts. Why not save a few dollars by shopping now for items you'll have to purchase anyway?

The qualifying items will definitely fulfill the bulk of your back-to-school shopping needs, with the major exceptions being computers and electronics. Plus, some of the items will also appeal to fashion mavens simply looking to take advantage of "End of Season" sales or update their Fall wardrobe. To add more incentive, some boutiques like Gamma Player will have special markdowns so that certain items will qualify for the reduced sales tax rate.*

So, print out that list, map out your strategy and get out there to boost the economy and support local businesses. Lord knows I will!

- City Soles (1566 N. Damen Ave) is having a Tax Holiday Sale (8/6 to 8/15) and removing ALL sales tax from ALL items in the store! Can you say "CRAZINESS"?!

*If I receive word of any other boutiques hosting Tax Holiday Sales, I will update the information on this post. If you receive word, feel free to leave a comment with the sale details.

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