Revenue Commissioner Alan LeBovidge today announced that revenue collections for the month of February totaled $800 million, down $112 million or 12.3 percent from February 2001, bringing year-to-date revenue collections to $9.4 billion, down $1 billion or 9.7 percent from last year.
"February is typically our lightest tax collection month," LeBovidge said. "This year's collections, affected by employment declines and smaller year-end bonuses for workers, are particularly light. Revenues are down across the board.''
Income tax collections for February totaled $434 million, a decrease of $90 million or 17.2 percent. Withholding tax collections totaled $635 million, down $94 million or 12.9 percent. Sales and use tax collections totaled $234 million, down $32.5 million or 12.2 percent. Corporate tax collections were negative $2.5 million, a decrease of $4.5 million or 224 percent.
Year-to-date income tax collections totaled $5.56 billion, down $723 million or 11.5 percent. Income withholding collections this fiscal year totaled $5 billion, a decrease of $409 million or 7.6 percent. Year-to-date collections of total sales and use tax collections were $2.5 billion, down $24 million or 1 percent. Corporate collections for the year totaled $140 million, down $235 million or 63 percent.
- <strong>Monthly Revenue Report</strong> (PDF) (through February 28, 2002)
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.