Massachusetts tax revenue collections totaled $2.5 billion in April, up $3 million or 0.1 percent from the same period a year ago.

Tax collections last month were $93 million below the monthly benchmark based on the fiscal year 2012 revenue estimate of $21 billion.

For the fiscal year through April, the commonwealth has collected $17.205 billion, up $346 million or 2 percent from a year ago, but $180 million below the budgeted estimate.

The department noted, however, that significant non-recurring business and corporate tax-related payments totaling close to $200 million were made in late April. Those payments since will be included in the May tax revenue report.

"Stronger-than-forecast sales tax collections, which are a good indicator of consumer confidence, and less-than-forecast income tax refunds were not enough to offset the below benchmark performance of income and corporate and business tax collections," state Revenue Commissioner Amy Pitter said in a statement.

 

Mass. Tax Revenue Collections Rise In April, But Miss Budget Goal

by Banker & Tradesman time to read: 1 min
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