SHOPPERS can make huge savings across a wide range of products this weekend as one state launches a 48 hour tax holiday.
The tax breaks will be available on the majority of products up to $2,500.
Shoppers in one US state can get tax exemptions on the majority of retail goods this weekend (stock)[/caption]
It comes just in time for back-to-school shopping as families make the most of the tax break (stock)[/caption]
But to qualify, they have to be for personal use as state officials hope it brings a boost to retailers and helps shoppers as their finances are stretched by the cost of living.
The Massachusetts tax free weekend started today and will last until 11:59 pm August 10.
“During the (sales-tax) holiday, the state’s 6.25% sales tax is suspended for most retail items priced under $2,500,” the state’s announcement said.
“This year’s temporary suspension of the sales tax will bring consumers needed economic relief,” House Speaker Ronald J. Mariano, D-Quincy, said.
He added that it will also “boost revenue for small businesses and retailers.”
Shoppers should know that they can purchase multiple items costing $2,500 or less with no limit and still be exempt from tax.
If any items are above that price threshold, the first $175 is tax free but the rest is taxable.
Even those who are shopping online can make the most of the tax holiday.
Online orders will be eligible for tax exemption if they are ordered and paid for during the weekend and during EDT hours.
“No sales tax is due on that purchase, even if delivery of the item occurs after the sales tax holiday weekend,” the Massachusetts Department of Revenue states.
All retailers open in the state over the weekend are required to participate.
While there are select items that are not included such as alcohol, tobacco, and cars, the savings can be made on the majority of items.
It is perfectly timed for families preparing to send their children back to school who want to stock up on supplies, or even those who want to get ahead and be ready for upcoming holidays like Christmas.
Fashion, electronics, and homeware is also included up to $2,500 per item so if you’ve had your eye on a product for a while, now is your chance.
Retail items that are not part of the MA tax holiday
The following items are still taxable and do not qualify for the sales tax holiday exemption:
- Meals
- Motor vehicles
- Motorboats
- Telecommunications services
- Gas
- Steam
- Electricity
- Tobacco products
- Marijuana or marijuana products
- Alcoholic beverages, and
- Any single item whose price is more than $2,500.
It is advised to compare prices between stores in order to save the most money.
Many shoppers are concerned about how tariffs will impact future prices and so by shopping now they could save money in the future.
“At a time when consumers are seeing prices on store shelves spike, driven in part by federally imposed tariffs, this year’s Massachusetts sales-tax holiday will give shoppers a much-needed break,” the Massachusetts Legislature said in a release.
“The holiday also encourages families looking to shop for back-to-school season to support local small businesses and retailers.”
If you find that you were wrongly charged tax over the weekend, you can request a refund along with proof of purchase.
It comes as several other states have also launched tax-free weekends this month.
