State Legislature Approves Tax Exempt Weekend for August 13/14
No state sales tax will be charged on purchases under $2,500 over the weekend of August 13 and 14th, 2011.
The Massachusetts legislature approved a sales tax holiday for August 13 and 14th, the sixth year in the last seven that the state has voted to suspend the state's 6.25 percent sales tax for a weekend.
The bill was signed into law on August 1st by Governor Deval Patrick.
The goal of the holiday is to help stimulate the state's economy, while also allowing customers to keep more money in their pockets.
“This weekend aims to boost sales for our local businesses who strongly support the measure,” said Senator Katherine Clark (D-Melrose.) “This sales tax holiday weekend has been a great success for both consumers and businesses.”
As in previous years, sales tax holiday will apply to purchases under $2,500. It excludes vehicles, motorized boats, tobacco, meals and utilities.
According to the Massachusetts Department of Revenue, the sales tax holiday has saved consumers nearly $100 million since 2004. The holiday did not pass the legislature in 2009.
State tax collections for Fiscal Year 2011 came in $723 million above what was benchmarked, and $2 billion more than all of Fiscal Year 2010. Revenues from June were also up $48 billion compared to the same time last year.