Tax Free in Massachusetts
The Great annual Tax Free weekend. Now we get to have one weekend a year in Massachusetts to purchase without paying 6.25% sales tax. So this weekend those who travel to New Hampshire can stay in Masssachusetts.
I think we should have a tax free weekend once a month. Who votes for that? Well anyway the highways and biways should be busy with shoppers taking advantage of that sales tax holiday.
Hey here's another idea: One paycheck a month without taxes taken out. Is anyone counting how many months you have to work in the year before you have paid your tax debt out of earnings if you are paid weekly?
I am full of ideas tonight. How about a designated month that we don't have to pay "tax stamps" when a property is sold or maybe do that 4 times a year. That would help the seller keep some money in his pocket instead of paying $4.56 per thousand on the selling price of their home. Except that in Barnstable County it is $5.70. In Dukes and Nantucket Counties also charge an additional 2% of the sales price that gets paid to the local land bank commission. In Needham which is Norfolk county it is $4.56 per thousand as it is in Middlesex and around the commonwealth.
I always let my sellers know of the cost of the "the Massachusetts transfer tax" (stamp tax) is the largest expense a seller will have to be prepared to pay after the real estate commission. So how can we get a holiday from this tax? Hey let's do away with that all together. Just wishful thinking... I dream of paying less taxes all around but alas it is just a dream and speaking of that I am headed for dreamland. Enough fantasy for one night.
