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