Tax & Accounting Blog

Massachusetts Passes Sales Tax Holiday Bill

Indirect Tax, ONESOURCE, Sales and Use Tax August 1, 2012

On July 31st the state legislators approved a bill that will create a sales tax exemption for most items costing under $2,500 per item during the weekend of August 11th through the 12th. The state House of Representatives voted 153-1 to approve the bill and the Senate voted 35-0 in support of the bill. Despite concerns about the estimated $20 million in lost tax revenue dollars during the weekend, Governor Deval Patrick has indicated he would approve the sales tax holiday.