NFIB: Missouri Sales Tax Holidays Critical to Local Businesses

Date: August 10, 2020

Missouri Sales Tax Holidays Critical to Local Businesses

 

NFIB State Director Brad Jones says this year’s sales tax holiday on certain back-to-school purchases, such as clothing, school supplies, and computers, comes at a crucial time for Missouri small businesses.

“As you know, the COVID-19 pandemic has ravished every industry in Missouri – however, it’s been particularly devastating to small businesses. Your local mom and pop shops have been forced to shut down and laid off employees because of lost revenue. Even the small businesses who have been able to secure PPP funds have run out of that money,” said State Director in Missouri, Brad Jones. “This weekend is a great window for Missourians to show their support to the small business owners who give back to their community by creating jobs and contributing to Missouri’s economy.”

“Missouri needs its small businesses,” Jones said. “ During this uncertain time, this weekend is a great way for the state to send a message them a strong message of support: while we may not know what will happen in the future, we appreciate all that small business does for the communities they live in.”

According to a report by American Express, 67 cents of every dollar spent at a small business stays in the community. It also creates an additional 50 cents in local business activity as employees and owners purchase local goods and services.

This year’s sales tax holiday is Aug. 7-8. 

According to a recent NFIB survey, nearly half of small business owner anticipate needing additional financial support and more than 70% of small business owners have used their entire PPP loan.

To learn more, visit Missouri’s Department of Revenue site here.

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