Establishes a vendors’ collection allowance in Massachusetts, allowing vendors to retain up to 2% of collected taxes annually, capped at $750.

The bill proposes to amend Massachusetts law by establishing a vendors’ collection allowance. Vendors collecting taxes under specific provisions can retain up to 2% of the total tax collected annually, with a cap of $750. This allowance is deducted during the standard reporting period, and once the annual maximum is reached, no further deductions are permitted until the next calendar year.

Establishes a vendors’ collection allowance in Massachusetts, allowing vendors to retain up to 2% of collected taxes annually, capped at $750.

The bill proposes to amend Massachusetts law by establishing a vendors’ collection allowance. Vendors collecting taxes under specific provisions can retain up to 2% of the total tax collected annually, with a cap of $750. This allowance is deducted during the standard reporting period, and once the annual maximum is reached, no further deductions are permitted until the next calendar year.