Missouri kicks off the 2010 sales tax holiday season today with its second Show Me Green Sales Tax Holiday.
Show Me State shoppers won't have to pay the state's 4.225 percent sales tax on eligible Energy Star appliances.
Qualifying appliances include clothes washers, refrigerators, freezers, dishwashers, water heaters, furnaces, air conditioners and heat pumps.
Some appliances, however, will not receive tax-free treatment because they are not Energy Star rated. They are clothes dryers, trash compactors, conventional ovens, ranges and stoves.
Tax savings cap: And there also is a price limit on tax savings.
The sales tax exemption applies only to the first $1,500 on each appliance. If your product costs more than that, the retailer will collect the regular sales tax on the purchase price that exceeds the cap.
That means that the maximum state sales tax savings on an Energy Star appliance could be $63.38. If you buy it in a city, county or taxing district that also is participating you'll save a few more dollars.
Combined savings: And some buyers might save a bit more.
Some stores, noted Alana M. Barragán-Scott, director of the Missouri Department of Revenue, hold special sales during the tax holiday.
Plus, this year the Missouri Department of Natural Resources is working with the U.S. Department of Energy to hand out rebates to Missourians who purchase selected Energy Star appliances. That cash-back program also began today
Visitors remember use tax: Missouri officials also are hoping to lure shoppers from neighboring states who are looking for appliance deals.
"Our friends from Kansas, Illinois, Iowa and the other states that border Missouri can benefit from this sales tax holiday just as much as Missourians," said Barragán-Scott. "I encourage our out-of-state neighbors to come to Missouri between April 19th and 25th and get a good deal on an energy-efficient appliance."
Just one tax reminder for those border-crossing shoppers. Even if you don't pay Missouri sales taxes, your state probably will want to collect its use tax on your purchase.
Other tax holidays on the way: If you're not in or near Missouri, don't worry. Many states will likely hold sales tax holidays in 2010.
Most will be back-to-school events in late summer, but a few states schedule Memorial Day sales-tax holidays.
I'm working on updating the list for 2010, so check back for that info a bit later.
- State use taxes tend to be useless
- State Tax Departments
- Hawaii's accidental tobacco tax holiday
- 2009's tax holidays on tap today