The International Council of Shopping Centers (ICSC) sent a letter to Governor Charlie Baker asking him to sign the sales tax holiday legislation currently on his desk. The annual sales tax holiday, scheduled for August 15-16, has become a tradition in Massachusetts and benefits not only consumers and local businesses, but also their employees.
The retail real estate industry provides employment to more than 287,000 people in Massachusetts and is an economic engine of the Commonwealth. Additionally, throughout the year shopping centers in Massachusetts create more than $144 billion in state sales tax revenue. That revenue helps pay for state and local services like fire, police, roadwork, and schools that keep our communities safe and vibrant. Allowing a few days of tax free shopping helps promote the industry that is not only a great fiscal engine for Massachusetts, but a corner-stone of local municipalities as well.
We are also hopeful that Congress will pass the Remote Transaction Parity Act (RTPA) that was recently introduced by Congressmen Jason Chaffetz (R-UT) and Steve Womack (R-AR). This bipartisan bill will level the playing field for local retailers by closing the online sales tax loophole. E-fairness is a top issue for ICSC.
About ICSC
Founded in 1957, ICSC is the premier global trade association of the shopping center industry. Its more than 70,000 members in over 100 countries include shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. For more information, visit www.icsc.org.