PRESS RELEASE
Make the MOST of Missouri’s Back-To-School Sales Tax Holiday—Start Saving for Education!
FOR IMMEDIATE RELEASE
Contact: Jackson Bailey, 573-526-6024
JEFFERSON CITY, MO – As families gear up for the new school year, Missouri State Treasurer Vivek Malek encourages all Missouri residents to take advantage of the state’s Back-to-School Sales Tax Holiday from Friday, August 1, through Sunday, August 3. During this special weekend, purchases of clothing, school supplies, and computers are exempt from Missouri state sales tax, as outlined in Section 144.049, RSMo.
“The Back-to-School Sales Tax Holiday is a great opportunity for Missouri families to save on back-to-school essentials,” said Treasurer Malek. “But it’s also a perfect time to think about the future, using those savings to invest in your child’s education by opening a MOST 529 account.”
A MOST 529 Education Plan allows families to save for education-related costs with tax-free investment growth and tax-free withdrawals when used for qualified expenses. Funds in a MOST 529 account can be used to pay for:
• Tuition for K-12, college, trade/vocational programs, and graduate school
• Registered apprenticeships
• Books, supplies, room and board, and computer equipment
Additionally, contributions are deductible from Missouri state income taxes—up to $8,000 per year for individuals and $16,000 for married couples filing jointly, providing a valuable financial benefit while saving for future education.
“With rising educational costs, now is the time to start saving,” added Treasurer Malek. “By opening a MOST 529 account, you can secure your child’s future and take advantage of the tax benefits available today.”
To learn more about the MOST 529 program or to open an account, visit MissouriMost.org.
