Revenue Commissioner Alan LeBovidge today announced revenue collections for April totaled $1.818 billion, an increase of $410 million or 29.1 percent over last April. Year-to-date revenue collections totaled $12.972 billion, an increase of $867 million or 7.2 percent.
Receipts for April were $373 million above the monthly benchmark and year-to-date revenues were $517 million above the benchmark for the first 10 months of fiscal 2004.
"The increase in tax collections this year to date is positive news and more evidence that an economic recovery in under way in Massachusetts," LeBovidge said
Income tax collections for April totaled $1.292 billion, an increase of $382 million or 42.0 percent from last April. Withholding tax collections totaled $599 million, an increase of $84 million or 16.3 percent. Sales and use tax collections were $305 million, up $5 million or 1.6 percent. Corporate and business tax collections in April were $72 million, an increase of $1 million or 1.3 percent over last April.
Year-to-date income tax collections were $7.258 billion, an increase of $681 million over last year at this time. Year-to-date withholding tax collections were $6.188 billion, up $269 million or 4.5 percent over last year. Sales and use tax collections for the first 10 months of fiscal '04 were $3.072 billion, up $1 million over the same period last year. Year-to-date corporate and business tax collections were $1.271 billion, an increase of $203 million or 19 percent over last year at this time.
<strong>Monthly Revenue Report</strong> (PDF) (through April 30, 2004)
Monthly revenue, fiscal year-to-date revenue and actual tax collections.