Retailers Project $500M In Earnings During Tax Holiday
BOSTON — The anticipation is building for Massachusetts retailers ahead of this weekend’s sales tax holiday.
Retailers are estimating the weekend will see $500 million in sales, compared to the $100 million expected on a normal August weekend.
Jon Hurst, president of the Retailers Association of Massachusetts, said the holiday could be a much-needed boost for struggling retailers.
“We really needed it this year, because last year was a very, very tough month of August,” Hurst said. “Not only did we have a very poor economy, we had no sales tax holiday and we had a sales tax increase.”
This will be the sixth sales tax holiday in the last seven years. It covers most items priced at $2,500 or less.