Email Newsletters

State Tax Revenues Miss Benchmark

May state tax revenue was up 22 percent compared to last year, but was about $70 million below the state Department of Revenue‘s benchmark for the year because of extended filing dates.

The state collected $1.57 billion dollars last month in tax revenue, which is about $191 million above the benchmark for the month.

Sales tax revenue was about $15 million over the benchmark, which DOR Commissioner Navjeet Bal said is a “good indicator of continued economic recovery.”

The state granted extended filing deadlines because of spring flooding. The delay has put the state behind the benchmark for the year.

Year-to-date, the state has collected about $16.5 billion, up $39 million or about 0.2 percent from last year.

– Digital Partners -

Get our email newsletter

Stay up-to-date on the companies, people and issues that impact businesses in Central Massachusetts.

Close the CTA