Taking quick action, the Legislature has approved a bill authorizing a sales tax holiday for the weekend of August 13-14. The Governor's office has already said he will sign the bill, probably early next week.
The terms and conditions for the holiday will be identical to those of previous holidays; Technical Information Release 10-10 from last year's holiday will get a quick rewrite to make it work for this year.
DOR's preliminary estimate is that taxpayers will save about $20.5 million over the two days.
The holiday began as a one-day event 2004, and has been held annually since then with the exception of the summer of 2009, which was the same time the sales tax increased from 5 percent to the current 6.25 percent. The savings to taxpayers have been estimated as follows: 2004, $10.1 million; 2005, $15.4 million; 2006, $16.9 million; 2007, $15.9 million; 2008, $14.9 million; and 2010, $19.9 million (first time holiday was held with sales tax rate set at 6.25 percent).
DOR + Social Media — #CheckUsOut posted on Jul 28
State tax administration might not deliver such seismic news events as LeBron’s eagerly-awaited announcement of his return to his old Cleveland team, but knowing what’s going on at any given moment in the tax world could save you some time and effort, and maybe …Continue Reading DOR + Social Media — #CheckUsOut
Commute to work on the T, Commuter Rail or Turnpike? You may be eligible for a Massachusetts Commuter Deduction on your tax return! posted on Jul 16
The Commuter Deduction was enacted by the Legislature to cover specific commuter expenses. To help understand the deduction, the Department of Revenue’s DOR University has released an e-learning module explaining what qualifies for a deduction, real-life examples and how you can claim your commuter deduction …Continue Reading Commute to work on the T, Commuter Rail or Turnpike? You may be eligible for a Massachusetts Commuter Deduction on your tax return!
DOR Offers FREE E-Learning Course on Fraternal Organization Tax Responsibilities posted on Jul 9
Help get the word out! The Department of Revenue’s online DOR University has recently developed a new free e-learning course on the tax responsibilities of fraternal organizations. Fraternal organizations are considered a type of Chapter 180 Corporation, which are formed for charitable or other purposes. …Continue Reading DOR Offers FREE E-Learning Course on Fraternal Organization Tax Responsibilities