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Sales Tax Holiday Passed for Aug. 11 and 12

Next weekend will be a good time for a shopping spree on Newbury Street or the Shops at the Prudential Center.

 

As part of the jobs bill passed on the last day of the legislative session, lawmakers passed a two-day tax holiday.

The 115-page bill, passed on Tuesday, included a two-day holiday on the weekend of Aug. 11 and 12 from the state's 6.25 percent sales tax, according to the Boston Globe

Excluded from the tax holiday are restaurant meals, cars, motorboats, tobacco and any item that costs more than $2,500. To offset the loss of revenue, Gov. Deval Patrick set aside $20 milliion in a supplemental budget he filed early last month.

Massachusetts was one of 17 states in the country to offer a sales tax holiday in 2011, according to Forbes. With the exception of 2009, the state has held a tax holiday every summer for the past nine years. 

The bill also allows for $30 million in state grants to spur economic development, particularly in scientific research and advanced technology manufacturing, the Globe reports.

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