Nicole St. Peter
Acting Revenue Commissioner Bernard F. Crowley, Jr. today announced that revenue collections for the month of November totaled $1.04 billion, down $45 million or 4.1 percent from November 2000. Year-to-date revenue collections are $5.675 billion, down $448 million or 7.3 percent. FY02 year-to-date tax collections are now $99 million below the midpoint of the year-to-date benchmark range corresponding to the FY02 tax revenue estimate of $15.594 billion.
"State revenues continue to decline in a slowing economy,'' Crowley said. "Corporate revenues have evaporated -- off nearly 90 percent from last year -- but consumer spending in November contributed to strong sales tax collections."
Income tax collections for November totaled $639 million, down $48 million or 6.9 percent. Withholding tax collections were $656 million, a decrease of $59 million or 8.2 percent. Sales and use tax collections totaled $299 million, up $25 million or 9.1 percent. Corporate tax collections totaled negative $19 million, down $16 million.
Year-to-date income tax collections totaled $3.31 billion, down $279 million or 7.8 percent. Withholding tax collections were $2.997 billion, a decrease of $214 million or 6.7 percent. Sales and use tax collections totaled $1.578 billion, an increase of $21 million or 1.4 percent. Corporate collections for the fiscal year totaled $23.5 million, down $171 million or 87.9 percent.
- <strong>Monthly Revenue Report</strong> (PDF) (through November 30, 2001)
Monthly revenue, fiscal year-to-date revenue and actual tax collections.
People also viewed...
You recently viewed...
Personalization is OFF. Your personal browsing history at Mass.gov is not visible because your personalization is turned off. To view your history, turn your personalization on.
Learn more on our .
*Recommendations are based on site visitor traffic patterns and are not endorsements of that content.