Shoppers, businesses prepare for tax free weekend in Massachusetts
WATERTOWN - Tax free weekend is just days away in Massachusetts. The discounts are designed to boost business for local retailers.
Mickey Lourenco's Watertown Tile has been in business for 20 years, priding itself on customer service. The store, typically closed on Sundays, will be open for business.
"We have glass tiles in different colors, sizes. I guarantee you no one has a better price than I do," said Lourenco.
And the prices are about to get lower. On August 10 and 11, the state sales tax of 6.25% will be waived on most retail items. "Everybody comes at once," Lourenco said.
The tax free weekend aims to support families financially with lower prices at the register, and small businesses, which can lose customers to tax-less states like New Hampshire.
"Keeps shoppers here in Massachusetts"
The Retailers Association of Massachusetts said, "This weekend keeps shoppers here in Massachusetts, giving consumers a chance to save on sales tax."
Boston University economics professor Laurence Kotlikoff is encouraging shoppers to spend this weekend. "The Mass. sales tax rate is quite high," Kotlikoff said. "It's I think a great thing for a consumer because you can buy lots of products that you're going to be using over the course of the year for 6.2% less."
There are many things consumers can buy tax-free, but there's also some things you can't. These items include anything over $2500, meals, alcohol, cannabis products and cars.
The financial break will still be beneficial to shoppers.
"I need to get a lot of like folders, notebooks, I need to get a backpack," said Boston grad student Ish Malik, heading back to school in the fall. On Wednesday, she took a trip to Target, but she'll be back this weekend for more.
"This is something that adds up over time," Malik said. "It's probably going to help quite a bit."
Eligible online purchases will qualify for the tax exemption.