Stores tally up tax free holiday sales
Massachusetts merchants are hoping this weekend’s sales tax holiday will give them a much needed boost from the late summer doldrums.
Bargain hunting shoppers are also hoping for a little relief in their pocketbooks and wallets.
What remains unclear is exactly how much the state, facing another tough fiscal year, will lose in revenue during the two days of tax free shopping.
Revenue officials say their best guess is that the holiday could end up costing Massachusetts anywhere from $20 million to $23 million in lost taxes.
The holiday lets shoppers avoid paying the state’s 6.25 percent sales tax on goods like televisions and other items costing up to $2,500.
Other items like cars, motorboats, meals and tobacco products are not exempt from the tax.