BOSTON (WWLP) – Massachusetts shoppers hoping to save a few bucks during the August sales tax holiday might be disappointed this year, as lawmakers opted out of the two-day break from the tax.
The sales tax holiday, which typically takes place during the second weekend in August, is not being held this year as tax revenues are expected to come-in short of expectations. The Baker Administration identified a shortage that could reach close to $1 billion, forcing lawmakers to scale back on spending.
The weekend allows Massachusetts shoppers to waive the 6.25% tax on most purchases. Although Massachusetts shoppers will still have to pay the sales tax, Governor Baker said that retailers are exploring ways to get you to spend your hard-earned money.
“I’m thrilled to see a lot of folks on the retail side coming up with a whole variety of creative ways of enticing shoppers into their stores in the month of August,” Baker said.
The August sales tax holiday costs the state between $23 and $28 million in lost tax revenue each year.