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Retailers laud tax-free weekend

taxpix1 Retailers laud tax free weekend

Massachusetts retailers are calling the recent sales tax holiday a huge success, though state tax officials estimate that it could cost the state $20 million to $25 million in potential revenue.

The Massachusetts Retailers Association says total statewide sales on Saturday and Sunday may have exceeded the group’s $500 million prediction for the tax-free weekend. Department of Revenue spokesman Robert Bliss says the estimates on lost tax revenue are only preliminary and it may be months before there are final numbers.

The tax holiday was the first in Massachusetts since the sales tax rate was increased to 6.25 percent from 5 percent. Joseph Wagner, owner of Wagner Rug Co. in Westfield, tells the Republican newspaper of Springfield that his store was so busy on Saturday his employees barely had a chance to eat.

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