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Mainly clear skies. Low near 60F. Winds light and variable..
Mainly clear skies. Low near 60F. Winds light and variable.
The state’s Back to School tax holiday will end on Sunday, Aug. 14.
Since Aug. 5, the state sales tax on certain school supplies and clothing has dropped from 6.25% to 1.25%.
Eligible items include qualifying clothing and footwear, such as school uniforms, coats, sneakers, rainwear and inter gear, with a retail selling price of less than $125 per item. Eligible school supplies, including book bags, calculators and other items used by students for studying, are not subject to the $125 threshold.
Teachers are also able to take advantage of the tax holiday, saving money on classroom supplies, including blackboard chalk, binders, index cards, writing tablets and more. Teachers can also receive an income tax credit up to $250 for school supplies purchased for their classrooms.
The 10-day sales tax holiday concludes Sunday, Aug. 14. The first sales tax holiday for Illinois in over a decade, it was created to save families $50 million on school supplies and is part of the $1.8 billion Illinois Family Relief Plan, with relief on gas, property taxes and groceries.
A Deloitte survey estimated that parents/guardians spend an average of $661 per child during the back to school shopping season. With inflation continuing to impact the lives of Illinoisans across the state, the sales tax holiday will allow Illinois families to shop for back to school supplies at a lower cost, reducing expenses during a high-spend time for most families.
“Families across Illinois are continuing to struggle post pandemic,” said State Sen. Michael E. Hastings (D-Frankfort). “I am proud that the legislature and the governor were able to work together to provide much needed assistance, especially right before school starts.”
The Back to School tax holiday is part of the Gov. JB Pritzker’s “family relief plan.”
The plan is one prong of several bills making up the Fiscal Year 2023 operating budget. The tax breaks — which also include relief on gas, property taxes and groceries — passed with nearly unanimous support in the General Assembly and provided an estimated $1.8 billion in tax relief for Illinoisans.
“These past 2½ years, for everyone, of managing through the pandemic has been hard,” Pritzker said at a news conference Thursday, Aug. 4.
“And the last nine months of inflation on top of that has strained the budgets of parents and teachers alike. Prices have risen for everything from gas to groceries to school supplies, and everyone is taking a hit. It’s at moments like these that we need thoughtful and creative solutions that provide financial relief for Illinois families.”
Other tax relief measures approved in the budget include a property tax rebate up to 5% of the homeowner’s tax bill up to $300 and a one-time income tax rebate of $50 per individual and $100 per dependent, up to a limit of three children per family. Those would be available to people with incomes up to $200,000 and joint filers with incomes up to $400,000.
The package also suspends for one year the 1% tax on groceries and puts a six-month pause on the automatic inflationary increase in the state’s motor fuel tax, which was estimated to be 2.2 cents per gallon.
The plan also permanently expands the state earned income tax credit from 18 to 20% of the federal credit, while also expanding the number of households that can claim the credit.
The measure also set an income tax credit for teachers buying classroom supplies at $250 for the current year and $500 beginning Jan. 1, 2023.
For more information on the 2022 State of Illinois Tax Rebates, visit the Illinois Department of Revenue’s website at tax.illinois.gov. Taxpayer representatives can also answer questions and provide assistance at 1-800-732-8866 or 217-782-3336.
Jerry Nowicki with Capitol News Illinois also contributed to this article.
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