Sets Tax-Free Weekend in August to Boost Local Business
June 27, 2011
BOSTON — State Representative Jen Benson today joined her colleagues in the Massachusetts House of Representatives in approving legislation that would allow a state sales tax holiday on August 13th and 14th of this year to encourage consumers to shop at local businesses across the state.
"I support our local businesses and have heard from many that this event brings a dramatic increase in business. Considering we have experienced an unanticipated increase in revenue over the last year, this allows us to give back to consumers while assisting businesses. It's a win-win", said Representative Benson.
"The Sales Tax Holiday will provide modest relief to the citizens of the Commonwealth who are looking for any piece of good news they can get in this very challenging economy," said House Minority Leader Bradley H. Jones, Jr.
The legislation requires that the commissioner of revenue certify the amount of sales tax forgone as well as the amount of revenue lost from specific government funds into which the weekend's sales tax revenue would have been deposited.
The commissioner must also certify the amount of new revenue raised from personal and corporate income taxes and other sources as a result of the sales tax holiday. These certifications must come by the end of this calendar year.
The sales tax holiday applies to retail sales excluding any single item priced higher than $2,500. The sales tax holiday does not apply to telecommunications or tobacco products as well as gas, steam, electricity, motor vehicles, motorboats or meals.
