NewsRadio 920 WHJJ and The Associated Press
PROVIDENCE, R.I. (AP) — A bill that would create two sales-tax holidays a year in Rhode Island is being heard by House lawmakers.
The Finance Committee is scheduled to take up a bill Tuesday that would create tax holidays on Presidents Day and the Saturday before Labor Day. Retail purchases would be free of the state's 7 percent sales tax on those days. Items costing more than $2,500 wouldn't qualify for the exemption.
Two bills that would lower the sales tax are pending. Sponsors say the legislation would make the state more business- and consumer-friendly, especially since Connecticut and Massachusetts have lower sales taxes.
Both neighboring states have held sales-tax holidays in an effort to boost sales.