Nicole St. Peter
Revenue Commissioner Frederick A. Laskey today announced that revenue collections for September 2000 totaled $1.74 billion, an increase of $217.4 million or 14.2 percent from last September. Year-to-date revenue collections totaled $3.95 billion, $437 million or 12.4 percent above last year. Year-to-date collections for FY2001 are $360 million above the midpoint of the revenue estimate range.
"Income and sales tax revenues continued to be very strong in September reflecting a continuing strong economy in Massachusetts," said Laskey.
Income tax collections for September totaled $986 million, an increase of $199.5 million or 25.4 percent when compared to September 1999. Withholding tax collections totaled $655 million, an increase of $118.4 million or 22.1 percent. Sales and use tax collections totaled $307 million, up $30.2 million or 10.9 percent. Corporate collections totaled $213.6 million, down $11 million or 4.7 percent though this decline was due to a comparison with unusually strong collections in September 1999.
Year-to-date income tax collections totaled $2.3 billion, up $353 million or 18.5 percent. Withholding collections totaled $1.9 billion, up $250 million or 15.1 percent. Total sales and use tax collections were $947 million, an increase of $80 million or 9.2 percent. Corporate collections totaled $235 million, down $10.2 million or 4.2 percent.
<strong>Monthly Revenue Report</strong> (PDF) (through September 30, 2000)
Monthly revenue, fiscal year-to-date revenue and actual tax collections.