Wednesday, July 23, 2008

Massachusetts Likely to Implement Sales Tax Holiday

Earlier in the day, the Massachusetts’ House of Representatives voted 139-15 to approve a sales tax holiday August 16th and 17th. Supporters of the bill expect that it will boost retail sales during a historically slow month. However, critics claim that it will not likely increase overall sales but encourage taxpayers to do all of their shopping for the month at one time.

If the bill is passed by the Senate, during the two days in August consumers will not have to pay the state's 5 percent sales tax on any item worth less then $2,500.

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