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Monday, August 07, 2006

Massachusetts Sales Tax Holiday Snubs Business Credit Cards!

Business Credit Cards
Business Credit Cards
If you live in Massachusetts, or plan on being in the state this upcoming weekend, then you should plan on doing some shopping. That's because Massachusetts is having a Sales Tax Holiday Weekend on August 12-13, 2006.

This coming weekend, you can buy tangible, personal items from retailers in the great state of Massachusetts and pay no tax on each item, as long as each item costs $2,500 or less.

The bad news is that there are a number of restrictions, one of which is that you can't use a business credit card if you want to take advantage of the tax-free weekend; you can't use a business check either.

Nevertheless, the tax-free weekend is still an excellent opportunity to save some money.

More details from Saturday's press release:

"The Commonwealth of Massachusetts will not be collecting sales tax on tangible personal property sold by retailers to the general public at a price of $2,500 or less during the sales tax-free weekend.

Here’s an overview:

  • A single item, not exceeding $2,500 maximum, will be sales tax-free.
  • When more than one item is purchased at the same time, and each item has a price of $2,500 or less, then all of the items may be rung up on one receipt and all items are tax-free.
  • Bundled items, such as computer packages that include computer, monitor, keyboard and printer in a single sales price only qualify for tax exemption if the price of the entire bundle is less than $2,500.
  • Prior sales and lay-a-ways do not qualify under any circumstances. The sale has to be generated during the tax-free weekend to count.
  • Business purchases are excluded, which also means any purchase made with a business check or business credit card.
  • Special order items such as furniture are eligible for the sales tax holiday so long as they are ordered and paid in full on the sales tax holiday weekend, and the cost of each item is $2,500 or less, even if delivery is made at a later date.
  • Motor vehicles, which includes ATVs and small motorcycles are excluded.
  • Motorized boats are excluded, but non-motorized boats such as canoes and kayaks do qualify for the sales tax exemption.
  • Car and boat rentals are considered services and do not qualify, but golf carts are eligible because they are not considered motorized vehicles.
  • Meals, telecommunication services, gas, steam, electricity, tobacco products and any item in excess of $2,500 remains taxable.
  • All services are excluded. Only tangible purchases are eligible. Airline tickets and sporting events are considered services."

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