Massachusetts Lawmakers Agree On Dates For Sales Tax Holiday
A 2018 law that put the state's minimum hourly wage on a gradual path to $15 and created the paid family and medical leave program also made the state tax holiday an annual fixture and tasked the Legislature with picking an exact date each August.
They have finally picked the dates for this year. According to Senate President Karen E. Spilka and House Speaker Ronald J. Mariano, the House and Senate each adopted a resolution setting Aug. 14 and 15 as this year's dates.
WHDH/7 News Boston reports that Spilka and Mariano had this to say in a joint statement:
We invite all residents to go out and benefit from this opportunity as we incentivize investment in our businesses and continue the work of setting our economy on a path to post-pandemic recovery.
It’s a date many shoppers have marked on their calendars as a time to buy big-ticket items without having to pay the state’s 6.25% sales tax. The sales tax holiday applies to individuals purchasing retail items for personal use only. Purchases made for business use for individuals or corporations do not qualify.
Most retail items up to $2,500 are exempt from the state’s 6.25 percent sales tax. Through May, the state had collected $30.451 billion in tax revenue, which is an almost 25% increase over last year. It's also almost $4 billion above their expectations.
So if you've been putting off purchasing that new snowblower, or that king-sized box spring mattress or the outdoor patio dining room set, just hold off a little longer. Wait for August 14 or 15 to make your purchase. The wait will be worth it.
Check out the full story at WHDH's website here.