Illinois suspends grocery tax for one year — with certain exceptions — FOX Business

The State of Illinois is suspending sales tax on groceries beginning July 1 and continuing for a year through June 30, 2023.

The state announced the pause on its 1% sales and use tax on qualifying items, specifying that it applies to food items meant to be consumed off the premises of the location where it is sold — with certain exceptions.

“Food sold for consumption off the premises includes grocery items and packaged foods but does not include candy, soft drinks, cannabis-infused foods, and alcohol,” the Illinois Department of Revenue said in a bulletin, adding that food made to order for takeout or delivery does not qualify and is still taxed. 

The state released a chart listing what items will not be taxed and……Full Loaf Hot Link[read more]

Rising Dough

Rising Dough - the question(s) that we need to think about from the reading.What is the point of suspending sales tax on groceries? What is going to make up for the shortfall in tax revenue? What is going to be the reaction of the consumer when the tax comes back in a year?

*Click on the “Full Loaf” icon to read the full article! After you read the article come back and tell us your thoughts.

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