Sales tax holiday set for this weekend
Gov. Deval Patrick and state lawmakers pushed through a bill last week ensuring that the 6.25 percent tax will be suspended for many purchases made the weekend of Aug. 10 and 11. The tax holiday includes restrictions. It does not apply to tobacco, telecommunications, gas, steam, electricity, motor vehicles or boats, nor does it apply to a single product with a price higher than $2,500.
According to the Department of Revenue, the tax holiday will forgo $21.9 million to $26.7 million this year.
“Continuing the sales tax holiday is good for our recovering economy,” said Senate President Therese Murray in a statement. “Not only does it boost sales but it puts extra money in people’s pockets, raises consumer confidence and helps families and parents who have to buy electronics for back-to-school. This legislation provides much-needed financial relief to residents while benefiting both large and small retail businesses.”
– STATE HOUSE