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Tax-free weekend in Massachusetts brings relief to businesses hit by tariffs

Tax-free weekend in Massachusetts brings relief to businesses hit by tariffs

CBS News5 days ago
This weekend, Massachusetts is offering shoppers a break with many retail items exempt from a usual sales tax on Saturday and Sunday.
For residents like Hannah Puckett, a shopper in Watertown, the timing couldn't be better. "Times are tough right now and everyone is trying to save money," she said.
Ryan Kearney, General Counsel for the Retailers Association of Massachusetts, "The sales tax holiday suspends the 6.25% sales tax on goods in Massachusetts as long as those goods are tangible."
According to Mass.gov, the following items are ineligible for the sales tax discount:
Shoppers aren't the only ones benefiting this weekend's discounts. Therone McQueen, the owner of Watertown Mattress, said his business that's been affected by tariffs will also feel relief.
"The prices just continue to go up," he said.
Friday afternoon, customers like Susan Jones and Nopi Kyriakopulos were already taking advantage of the tax-free weekend by placing orders early. "The guy told me Saturday is tax-free, so I said, 'OK, I'll come tomorrow and pay you,'" said Kyriakopulos.
Nearby, Mickey Lourenco at Watertown Tiles is offering additional deals on top of the tax exemption. "Anything in stock, we are giving 20% off on any tiles," he said. "We have a lot of customers coming in, doing all of the selection because they want to take advantage of the tax-free date."
For Kearney, the purpose of this weekend's purpose is about more than just saving money but rather to support local businesses and boost the state's economy. "That's really the reason why this is such an important initiative here in Massachusetts," he said.
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Participating firms were evaluated and ranked on a wide range of quantitative and qualitative data, including: assets overseen by the firm, revenue generated by the firm, level of technology spending, number of clients, size of staff, diversity across staff, and placement of a succession plan. The ranking may not be representative of any one client's experience, is not an endorsement, and is not indicative of the advisor's future performance. Neither Steward Partners nor any of its Financial Advisors pay a fee in exchange for this award/rating. Barron's is not affiliated with Steward Partners. About InvestmentNews' Top Financial Advisors in the USATo compile the second annual Top Advisors list, InvestmentNews first solicited nominations from advisors, industry professionals, and clients. Only advisors nominated were eligible for the list. All information on the nominees had to be verified by their compliance team before it could be accepted. The final list was determined based on each advisor's weighted ranking in overall AUM, AUM growth, and client growth (between August 2023 and August 2024). The InvestmentNews team assigned a ranking to each advisor in each category and then calculated a combined score to determine the advisor's final placement on the 2025 Top Advisors list. Neither Steward Partners nor its affiliates paid a fee to InvestmentNews in exchange for the ranking. Securities are offered through Steward Partners Investment Solutions, LLC ("SPIS"), registered broker/dealer, member FINRA/SIPC. Investment advisory services are offered through Steward Partners Investment Advisory, LLC ("SPIA"), an SEC-registered investment adviser. SPIS, SPIA, and Steward Partners Global Advisory, LLC are affiliates and collectively referred to as Steward Partners. Media Contact:Zach AllegrettiJConnellyzallegrettiii@ View original content to download multimedia: SOURCE Steward Partners Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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