August 6, 2010
State Tax Revenues Top $1.3B In July
By Brandon Butler
State income and sales taxes came in above their benchmarks last month, but corporate and business tax collections were below expectations, according to the Massachusetts Department of Revenue.
The state got $721 million in income taxes, $21 million more than the same month last year, or a 3 percent increase. That was $67 million more than the state expected to collect.
Sales tax collections totaled $450 million, up more than 30 percent from July 2009 and $12 million above the state benchmark. Corporate and business taxes, meanwhile, stood at $48 million, down 43 percent from last year and $2 million off the state benchmark.
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