The temporary suspension of the state sales tax scheduled for this weekend is hoped to extend a bit of succor to the pockets of shopping hunters.
The tax relief witnessed an approval from Gov. Deval Patrick earlier this month as part of an effort under the economic development bill.
Under the tax relief to be run on Saturday and Sunday, shoppers would not have to shell out for state ruled 6.25% sales tax on items worth $2,500 or less, including electronic goods and back to school merchandise.
Massachusetts merchants have stick to a spate of hopes that the temporary tax removal for two days will grant their business the much needed boost midst of sluggish economic recovery.
Besides, Bargain hunting shoppers are hoped to be driven to make some spending.
However, the loss the beleaguered state, facing a spate of economic issues this year, would incur during the two days of tax free shopping is yet now clear.
Some revenue officials have speculated the exact tax loss to crop up for Massachusetts would lie somewhere in the cost bracket of $20 million to $23 million.
However, only individuals have been exempted from the state tax, and businesses and corporations will still have to shell out for 6.25% tax operated by the state.
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