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Each year, some U.S. states hold tax holidays -- short periods where state sales taxed are waived on selected items. Most often, these items are school-related, and the tax holiday is timed for ...
A tax holiday may be granted to particular activities, [2] in particular to develop a given area of business, [3] or to particular taxpayers. [4] Researchers found that on sales tax holidays, households increase the quantities of clothing and shoes bought by over 49% and 45%, respectively, relative to what they buy on average. [5]
Massachusetts has a 6.25% state sales tax on most goods (raised from 5% in 2009). There is no sales tax on food items, but prepared meals purchased in a restaurant are subject to a meal tax of 6.25% (in some towns voters chose to add a local 0.75% tax, raising the meal tax to 7%, with that incremental revenue coming back to the town).
Other things to know about MA's tax free weekend: Layaway sales do not qualify for the sales tax holiday. Rentals of up to 30 days qualify if the rental is paid in full during the holiday, barring ...
This year, the sales tax holiday will take place on Saturday, Aug. 10 and Sunday, Aug. 11. For these two days, retail items under $2,500 purchased for personal use will be exempt from the ...
Massachusetts Question 3, filed under the name, the 3 percent Sales Tax Relief Act, appears on the November 2, 2010 ballot in the state of Massachusetts as an initiative. The measure, if enacted by voters, would reduce the state sales tax rate from 6.25 to 3 percent. The measure was sponsored by the Alliance to Roll Back Taxes headed by Carla ...
According to press reports, the state department of revenue last year estimated that it gave up $14.5 million during the its back-to-school tax holiday and $1.7 million during its November tax ...
Chapter 61 is a voluntary current use program designed by the Massachusetts Legislature to tax real property in the Commonwealth of Massachusetts at its resources value rather than its highest and best use (development) value. Landowners who enroll their land in the program receive property tax reductions in exchange for a lien on their ...