September 8, 2014
State says FY2015 revenue ahead of projections
By State House News Service
Massachusetts revenue collectors received $3.23 billion from taxpayers in July and August, a 3.2 percent increase over the same period in 2013 and $66 million more than benchmarks used by state budget writers.
The Department of Revenue reported last week that August tax collections were up 5.7 percent over August 2013 and totaled $1.632 billion.
Officials said withholding collections were better than expected and offset shortfalls in sales and use taxes and corporate and business tax collections.
Lawmakers are working behind the scenes this month on a spending bill that will allocate surplus fiscal 2014 revenue and balance accounts where spending overshot appropriated revenue.
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