Sales Tax Holiday This Weekend, Aug. 11 and 12

The tax break was part of a larger economic development bill the Legislature passed last week. Do you plan to make take advantage of the two-day tax holiday?

As part of the jobs bill passed on the last day of the legislative session, lawmakers passed a two-day tax holiday.

The 115-page bill, passed last week, included a two-day holiday on the weekend of Aug. 11 and 12 from the state's 6.25 percent sales tax, according to the Boston Globe

Excluded from the tax holiday are restaurant meals, cars, motorboats, tobacco and any item that costs more than $2,500. To offset the loss of revenue, Gov. Deval Patrick set aside $20 milliion in a supplemental budget he filed early last month.

Massachusetts was one of 17 states in the country to offer a sales tax holiday in 2011, according to Forbes. With the exception of 2009, the state has held a tax holiday every summer for the past nine years. 

The bill also allows for $30 million in state grants to spur economic development, particularly in scientific research and advanced technology manufacturing, the Globe reports.

Do you plan to take advantage of the two-day tax holiday?  Why or why not?  Tell us in the comment section below. 


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