As the cost of everyday goods and services rises, most Americans are feeling added financial stress as they fill up their grocery carts. Using store loyalty rewards programs and coupons can help lower your grocery bill, but the savings only go so far when prices continue to climb.
Individuals and families in Illinois will soon get some relief when the state temporarily eliminates its tax on groceries. Find out what this means for residents of the state.
While paying state sales tax is the norm for most Americans, most U.S. states don’t charge taxes on groceries as they’re considered a necessity for survival. But some states require their residents to pay taxes on groceries.
Illinois is one of the states that impose a tax on groceries. Currently, the state charges a 1% tax on groceries, medicine, other drug items, and hygiene products. Other purchases are charged at a higher sales tax rate of 6.25%.
But soon, residents will get some relief in the checkout lane.
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The state’s grocery tax is no more starting on July 1
Beginning on July 1, 2022, Illinois will suspend its 1% tax on retail sales of groceries. This suspension will last through June 30, 2023. What does that mean for shoppers? Grocery purchases usually taxed at 1% will no longer be taxed.
This temporary tax change applies to food for human consumption that will be consumed off the premises.
f you purchase everyday grocery items to take home, they will not be…
