Mass. Tax Collections, Revenue Above Predictions In August
BOSTON (AP) — Massachusetts brought in more than $1.7 billion in taxes and other revenue in August — about $100 million, or 6 percent, more than last August.
For the first two months of the 2016 fiscal year, revenue has totaled $3.4 billion.
That's $175 million, or 5.4 percent, more than last year at this time and $39 million above predictions.
Revenue Commissioner Mark Nunnelly said August is historically not a strong month for revenue collections because there are no quarterly estimated payments due for most businesses and individuals.
Revenue for August was $34 million above expectations, while income collections were $6 million below the monthly benchmark.
Corporate and business taxes were $34 million above predictions for the month. Sales and use tax collections were also $6 million above benchmark.
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