Massachusetts Sales Tax Holiday 2018 might happen!
Due to many budget concerns, the Massachusetts Tax Free Weekend was cancelled in 2016. Massachusetts sales tax holiday 2017 didn’t happen either, but a law was just passed making the chance for Massachusetts Sales Tax Holiday 2018 to happen.
Find out more about the law that was passed making the Massachusetts Tax Free Weekend 2018 possible.
For businesses, the Massachusetts tax-free weekend means a spurt of business in what can be a slow time when most people are out enjoying summer instead of shopping.
What it means
The state’s 6.25 percent sales tax is suspended on most purchases of less than $2,500. See our handy cheat sheet below to see how much you’d save on purchases ranging from $50 to $2,499.
What items will still be taxable?
Anything costing more than $2,500, according to the state Department of Revenue. That means if an item costs $2,600, the consumer pays the tax.
What about clothing?
There is no Massachusetts sales tax on any article of clothing unless the sales price exceeds $175. It it exceeds $175, only the increment over $175 is subject to tax. If the price of an article of clothing exceeds the threshold, the first $175 may be deducted from the amount subject to tax. The $2,500 threshold amount is not increased by $175.
A clothing example?
A) A customer buys a suit on the sales tax holiday for $600. No tax is due.
B) A customer buys a wedding dress on the sales tax holiday for $2,550. Tax is due on $2,375 ($2,550 – $175).
Breaking up items:
Retailers are told not to split up items normally sold as a set. No calling a $3,000 suit a $1,500 coat and $1,500 pants to beat the tax, the state says.
What about cars, boats, motorcycles, etc.?
The exemption doesn’t apply to: all motor vehicles, motorboats, motorcycles etc. Pretty much anything you have to register doesn’t count and is taxed.
What else isn’t part of the holiday and thus is taxable?
Meals, telecommunications services, gas, steam, electricity, tobacco.
Is now the time to buy those Apple products you’ve been thinking about?
Mark Wineburg, owner of Yes Computer in Northampton, an Apple retailer, said that the tax-free weekend is his busiest time of the year.
“Christmas doesn’t hold a candle to it,” he said, adding that he thinks it’s one of the best business decisions that state has ever made.
He said pre-ording on computers and devices is strong.
“This has been even better than the previous six years,” he said.
For his business, the tax-free weekend comes as consumers are preparing to go back to school or at least winding down summer fun.
“They are basically back in gear,” he said.
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