Money Watchers: Sales-tax holiday in Mass.
SWANSEA, Mass. —
Massachusetts is holding a sales-tax holiday this weekend. It's an opportunity for residents to save money on big-ticket items and school supplies.
At Cardi's Furniture, Pete Cardi said they expect to do 30 percent of their business in two days for the whole month. But there's a catch if you're a Rhode Islander shopping in Massachusetts.
Cardi said those customers will get a discount equal to the tax, but they'll still have to pay the tax.
Down the street from Cardi's, other smaller furniture dealers are jumping in as well. A tent has been set up at Furniture Clearance Centers in Seekonk just for this weekend.
The company's Bob Russon said he sees sales go up on tax holiday weekends.
"The sales decline just before tax-free weekend, and they go up immensely during tax-free weekend and they decline a little bit after tax-free weekend," Russon said.
Any item that costs $2,500 or more is not tax-free. Cars and boats are also excluded.
Cardi said Rhode Island should follow suit with a sales-tax holiday.
"They should do it just to have parity because most of the stores impacted are offering a discount anyways. And what happens is in our Rhode Island stores, we're actually as a business taking it on the chin as are other retailers because it's not coming off the tax. We're subsidizing that," Cardi said.
The tax-free holiday in Massachusetts starts Saturday and lasts through Sunday.