Massachusetts Is One Step Closer To A Tax Free Holiday
We haven't seen a tax free holiday is three years, but Massachusetts is now one step closer to making one happen in 2018!
The Massachusetts House has approved an amendment to the economic development bill that would give the state a tax free weekend on August 11th & 12th...now we just need the state Senate on board to make it a reality.
And though it may not seem that great a thing to some, I think a just before back-to-school suspension of the state tax is nothing but a good thing.
Sure clothes are always tax free, but these days you buy a lot more than clothes for your kids when they head back to school. Especially if you're sending them off to college this year!
Saving on the laptop for homework, the mini fridge for the dorm room and the laundry list of other notebooks, calculators and backpacks can really add up for any family.
And I certainly think any chance to save money is a good thing.
Last year families planned to spend an average of over $680 on back-to-school shopping. Not paying the taxes on some of that can add up BIG.
And even if you aren't sending kids to school, the tax free weekend could be the perfect time to splurge on that big ticket item you've been eyeing. Maybe a new TV or laptop? Or some new furniture for your home? These things bought tax free can change the cost quite a bit.
Sadly the state Senate has vetoed amendments like these in the past and it will all come down to them before we know if we can shop tax free this August.