Massachusetts Tax Collections Soar Past Benchmarks in December - NECN


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Massachusetts Tax Collections Soar Past Benchmarks in December



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    Massachusetts collected more than $3 billion in tax revenue in December, more than 21 percent higher than estimated.

    State Department of Revenue Commissioner Christopher Harding said in a statement that the preliminary numbers announced Thursday were $527 million more than monthly benchmarks and almost 21 percent more than was collected in December 2016.

    For the fiscal year-to-date through December, revenue collections totaled almost $13 billion, which is $728 million or 6 percent more than the year-to-date benchmark and $966 million more than the same period the previous fiscal year.

    The high numbers were driven by surges in income tax estimated payments and income tax collections. Sales tax and corporate tax collections also beat benchmarks.

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    December is generally one of the better tax collection months.

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