Mass. tax take up in December, but biz revenue lags
While preliminary December revenue collections increased 10 percent over last year to $2.3 billion and exceeded the monthly benchmark set by the Massachusetts Department of Revenue (DOR), year-to-date business tax collections lagged below fiscal year 2014 levels, DOR Commissioner Amy Pitter said Tuesday.
While corporate and business collections for December totaled $323 million—up $40 million over last December and $30 million above the monthly benchmark—year-to-date corporate and business tax collections were $887 million, which marks a 6-percent decline from 2014. It’s also $28 million below the DOR’s year-to-date benchmark for corporate and business collections.
The figures exclude one-time settlement payments, according to the DOR.
Meanwhile, sales and use tax collections for December increased 3.1 percent over December 2013 to $458 million, while year-to-date collections grew 4.7 percent to $2.87 billion, but those collections missed the monthly and year-to-date benchmarks by $16 million and $50 million, respectively.
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