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Mass. Monthly Tax Revenues Running Nearly 7% Higher Than Last Fiscal Year

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(credit: Thinkstock)

(credit: Thinkstock)

BOSTON (AP) — Massachusetts officials say monthly tax collections are continuing to exceed expectations.

State Revenue Commissioner Amy Pitter says revenues collected in January totaled $143 million more than in the same month a year ago, an increase of more than 6 percent.

Last month’s performance also topped the state’s revised benchmark by $83 million.

Pitter says higher than expected withholding and corporate tax collections offset what she called “relatively weak” sales tax collections. She notes that at least $30 million of the withholding payments in January had been anticipated in December.

Seven months into the current fiscal year, the state says revenue collections are running $856 million, or nearly 7 percent, higher than at the same point in the previous fiscal year.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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