Gov. Baker wants 2-month-long ‘Sales Tax Holiday’


REPORTER: AS WELL A KNOW, THE SALES TAX HOLIDAY USUALLY JUST THIS PROPOSAL IS QUITE SIGNIFICANT. A LOT OF SMALL BUSINESSES SAY IT WOULD REALLY DRIVE SALES. THE GOVERNOR SAYS THE STATE HAS EXTRA MONEY BECAUSE TAX REVENUES WERE A LOT HIGHER THAN PROJECTED. TO THE TUNOFE ABOUT $4 BILLION. HE SAYS THIS PROPOSAL COULD SAVE COUMNSERS $900 MILLION BY DROPPING THE 6.25% TAX FOR TWO MONTHS. SOME BUSINESSES HAVE REAYLL STRUGGLED WITH INVENRYTO SO THEY WORRY THEY MAY NOT HAVE ENOUGH IN STOCK. >> IT WOULD DEFINITELY HELP. BESIDES JUST RADIOS, WE HAVE HEOTR PRODUCTS WE CAN OFFER. IT WOULD HELP THE SMALL BUSINSES FOR THE CUSTOMERS COMING INTO LOOK FOR A PRODUCT TO PURCHASE. IT WOULD HELP. REPORTER: SO AGAIN, ISTH IS A PROPALOS BY THE GOVERNOR AND IT’S UP TO LAWMAKERS TO VOTE THIS IN. IF TY DOHE THAT, SALES TAX WOULD BE DROPPED ON MOST PURCHAS

Gov. Baker wants 2-month-long ‘Sales Tax Holiday’

Massachusetts consumers may get a two-month reprieve from sales tax if Gov. Charlie Baker’s Sales Tax Holiday proposal that would run for the months of August and September is approved. “A two-month sales tax holiday will provide a boost to Massachusetts’ taxpayers and Main Street economies as we continue to recover from COVID-19,” Baker said. “Massachusetts’ economic recovery is off to a good start, but it’s crucial that the Commonwealth takes action now to spur more economic activity in communities and support taxpayers.”The administration filed legislation Wednesday. State tax revenues for Fiscal Year 2021 have to-date revenues 14.9% above benchmark, and strong revenues across the board have allowed the state to grow the size of the Stabilization Fund and be poised to end the fiscal year with a significant surplus for FY21 budget, the administration said. Last week Massachusetts lawmakers agreed on setting the Sales Tax Holiday weekend for Aug. 14 and 15. Traditionally, the designated holidays allow shoppers to avoid paying the 6.25% sales tax on most retail items that cost less than $2,500.

Massachusetts consumers may get a two-month reprieve from sales tax if Gov. Charlie Baker’s Sales Tax Holiday proposal that would run for the months of August and September is approved.

“A two-month sales tax holiday will provide a boost to Massachusetts’ taxpayers and Main Street economies as we continue to recover from COVID-19,” Baker said. “Massachusetts’ economic recovery is off to a good start, but it’s crucial that the Commonwealth takes action now to spur more economic activity in communities and support taxpayers.”

The administration filed legislation Wednesday.

State tax revenues for Fiscal Year 2021 have to-date revenues 14.9% above benchmark, and strong revenues across the board have allowed the state to grow the size of the Stabilization Fund and be poised to end the fiscal year with a significant surplus for FY21 budget, the administration said.

Last week Massachusetts lawmakers agreed on setting the Sales Tax Holiday weekend for Aug. 14 and 15. Traditionally, the designated holidays allow shoppers to avoid paying the 6.25% sales tax on most retail items that cost less than $2,500.



Read More: Gov. Baker wants 2-month-long ‘Sales Tax Holiday’

2021-06-23 21:27:00

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments