March 3, 2011
State Tax Collections Down
Massachusetts tax collections in February were $46 million below benchmark as the state gave out more refunds and collected less sales and corporate taxes than predicted, according to preliminary numbers from the state Department of Revenue.
February, the state's smallest collection month, saw total collections of $933 million, down 7 percent from a year ago. The state attributed the year-over-year decline partly to the elimination of the sales tax on alcohol and a shift in withholding tax revenues to January.
Altogether, collections for fiscal 2011 now stand at $12.6 billion, up 8.8 percent from a year ago but $19 million below the revised year-to-date benchmark.
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