Massachusetts Shoppers To Enjoy Tax Break This Weekend
Massachusetts Shoppers To Enjoy Tax Break This Weekend

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.

Latest News

FTC probing Google’s display ad business: report
Facebook recommends holding off HTC First’s U.K. launch: EE
AMD launches three new APUs
Facebook decides not to bring HTC First to the UK
Opera for Android available for the masses
Wireless-power startup Powermat acquires PowerKiss
HTC in a state of utter freefall: The Verge
Verizon partners with Jennifer Lopez’s Viva Movil
Pinterest tweaks pins to provide more details on showcased items
South Australia’s first Apple Store to open at 10a.m. on Saturday
Samsung launches Galaxy S4 compatible TecTile 2 tags
Soaring gas prices surprise market watchers