This year, a two-day summer sales tax holiday is in effect for Saturday, Aug. 16 to Sunday, Aug. 17 in Massachusetts.The tax holiday will apply to items costing $2,500 or less. This is the fifth year in a row for the tax-exempt holiday. Supporters for the weekend are hoping it stimulates the economy a time of year that's normally slow.
Senate president Therese Murray tells the Associated Press: "“A sales-tax-free weekend will be welcomed more than ever in this tough economy, especially with the high prices of food and fuel. The relatively small sacrifice in state revenue is worthwhile when you consider the positive impact on consumer confidence and taxpayers’ wallets.”
The tax exemption doesn't apply to all sales of motor vehicles, motorboats, meals, telecommunications services, gas, steam, electricity, tobacco products and any single item whose price is over $2500.
Click here for more information.
No comments:
Post a Comment