SERVPRO of Newton Wellesley Shares Tax-Free Information

8/4/2022 (Permalink)

The tax-free weekend comes once a year. This allows people to get school items tax-free, which could be a great deal of savings!

The tax-free weekend comes once a year. This allows people to get school items tax-free, which could be a great deal of savings! 

The sales tax holiday for 2022 will be held on Saturday, August 13, and Sunday, August 14. Retail items of up to $2,500, purchased in Massachusetts for personal use on these two days, will be exempt from sales tax.

If you spend more than $2,500 on an item, the entire amount paid for the item is subject to sales tax, not just the amount that exceeds that threshold. There is, however, an exemption with respect to clothing.  An item of clothing is generally exempt from the sales tax unless the item costs more than $175.  If it does, only the amount over $175 is subject to tax. If on the sales tax holiday, the price of an item of clothing exceeds $2,500, the first $175 is not subject to tax.

You can learn more here: 

https://www.mass.gov/info-details/sales-tax-holiday-frequently-asked-questions 

SERVPRO of Newton Wellesley is available 24/7 including holidays and weekends to assist you and help you with your commercial damage. “Like it never even happened.”