Sales Tax Holiday’s Benefit May be Hard to Gauge
(AP) — Illinois’ first-ever sales tax holiday is in the books, but it may be weeks before there’s any calculation of how much consumers saved at the expense of state coffers.
The Illinois Department of Revenue had estimated the state stood to lose as much as $60 million in sales-tax revenue from the 13-day tax reprieve that ended Sunday.
The waiver applied largely to back-to-school items and was meant to stoke spending while making Illinois more competitive with neighboring states that already were offering such a sales-tax holiday.
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