Massachusetts Annual Tax Holiday: Residents Enjoy Tax-Free Shopping This Weekend
Get ready, Massachusetts residents! The highly anticipated annual tax holiday is just around the corner, allowing you to indulge in guilt-free shopping without paying the sales tax. This year, the tax holiday will take place on Saturday, Aug. 12, and Sunday, Aug. 13. It’s the perfect opportunity to snag some great deals and save some extra cash.
During the tax holiday, most retail items with a value of up to $2,500 will be exempt from the sales tax. However, it’s important to note that this exemption only applies to purchases made for personal use by residents. Sorry businesses, this one’s for the residents only! The exemption does not extend to purchases made by businesses or for business purposes.
While the tax holiday covers most retail items, there are a few exceptions to keep in mind. Meals, motor vehicles, telecommunications services, and tobacco and marijuana products do not qualify for the sales tax holiday exemption. So if you were planning on buying a new car or indulging in some delicious meals, you’ll still have to pay the sales tax.
But here’s some good news for online shoppers – internet sales made and paid for during the sales tax holiday weekend, even if the delivery occurs after the weekend, are eligible for the exemption. This means you can grab some incredible deals online and enjoy the same tax benefits.
Additionally, layaway sales and rentals of qualifying items paid for in full on the holiday weekend also qualify for the exemption. However, do note that rentals exclude motor vehicles or motorboats. So if you’ve been eyeing that special item, now is the time to take advantage of this tax holiday.
Every business that typically makes taxable sales in Massachusetts or to purchasers in Massachusetts and is open on Aug. 12 and 13 must participate in the sales tax holiday. So, you can expect all your favorite stores to be part of this exciting event.
It’s worth mentioning that if an item exceeds the $2,500 limit, the entire amount paid for it will be subject to the sales tax. Make sure to keep this in mind while making your shopping plans.
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Happy tax-free shopping, Massachusetts!
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