November 6, 2015
State revenues up over last year
Revenue collections in Massachusetts are off to a good start in fiscal 2016, with over $7 billion being collected.
The Department of Revenue (DOR) reported Thursday that Massachusetts collected $7.6 billion during the first four months of the fiscal year, July through October. That was 4.2 percent more than collected during the same period a year earlier, and $126 million above expectation.
The state took in nearly $1.7 billion in October, which was $46 million more than it collected in October 2014, for an increase of 2.9 percent.
October is a relatively small collection month in Massachusetts, with no quarterly estimated tax payments due for individual taxpayers or most corporations, the DOR said.
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