Bill > S1587

This bill proposes to reduce the state's sales tax rate, which is currently 6.25 percent, through a series of phased changes. Specifically, it amends Chapter 64H and Chapter 64I of the General Laws, which govern sales and use taxes. The bill outlines three distinct reductions: first, to 5.8 percent, then to 5.4 percent, and finally to 5 percent. These reductions are scheduled to take effect on different dates, with the initial decrease to 5.8 percent starting on August 1, 2015, the reduction to 5.4 percent beginning on August 1, 2016, and the final rate of 5 percent becoming effective on August 1, 2017.