Massachusetts shoppers had a successful weekend after Governor Charlie Baker authorized this year’s sales tax holiday just a day before the weekend kicked off.
A sales tax holiday weekend typically costs the state a little over $20 million. Which is why this summer seemed like a good time to hold a sales tax-free weekend because the state collected more in tax revenue than it was expecting.
The Department of Revenue reported the state saved about $1.2 billion. Back in 2015, after the last sales tax-free weekend took place, the DOR estimated that the state lost just over $25.5 million.
As for sales tax data collected on August 11 and 12, the DOR told 22News, they are not required to issue a report on the impact of the sales tax holiday until the end of December. And that is because businesses are not required to report the data on a daily basis.
In 2015, The Department of Revenue roughly estimated that businesses increased their revenues by about $2.5 million.