FY2009 Budget :: Ways and Means Budget

SECTION 1A. In accordance with Articles LXIII and CVII of the Articles of Amendment to the Constitution of the Commonwealth and section 6D of chapter 29 of the General Laws, it is hereby declared that the amounts of revenue set forth in this section by source for the respective funds of the commonwealth for the fiscal year ending June 30, 2009, are necessary and sufficient to provide the means to defray the appropriations and expenditures from such funds for that fiscal year as set forth and authorized in section 2. The comptroller shall keep a distinct account of actual receipts from each such source by each such fund, furnish the executive office for administration and finance and the house and senate committees on ways and means with quarterly statements comparing such receipts with the projected receipts set forth in this section, and include a full statement comparing such actual and projected receipts in the annual report for that fiscal year pursuant to section 12 of chapter 7A of the General Laws. These quarterly and annual reports shall also include detailed statements of any other sources of revenue for the budgeted funds in addition to those specified in this section.

Fiscal Year 2009 Revenue by Source and Budgeted Fund (in Millions)
Source	All Budgeted Funds*	General Fund	Highway Fund	SMART	MBTA
Tax Revenue
Alcoholic Beverages	75.4	75.4
Cigarettes	439.8	439.8
Corporations	1,404.6	1,404.6
Deeds	169.4	169.4
Estate Inheritance	233.3	233.3
Financial Institutions	254.0	254.0
Income	12,739.7	12,739.7
Insurance	420.7	420.7
Motor Fuels	674.6		673.7
Public Utilities	150.0	150.0
Room Occupancy	123.2	80.1
Sales - Regular	3,098.4	1840.4		601.0	657.0
Sales - Meals	665.1	665.1
Sales - Motor Vehicles	514.2	302.2		101.0	111.0
Miscellaneous	3.5	3.5
UI Surcharges	21.0
Total Tax Revenues	20,987.0	18,778.2	673.7	702.0	768.0

SBA Transfer	(702.0)			(702.0)
MBTA Transfer	(768.0)				(768.0)
Pension Transfer	(1,465.0)	(1,465.0)
Total Consensus Taxes for Budget	18,051.9	17,313.2	673.7

Adjustments to Corporate Taxation Laws
Combined Reporting	188.0	188.0
Conformity of Classification (Check-the-Box)	101.0	101.0
Corporate Tax Total	289.0	289.0

Excise Rate Reduction	(85.0)	(85.0)
Life Sciences Tax Incentives	(25.0)	(25.0)

DOR Enforcement and Efficiencies
Annualized Value of Additional Auditors	60.3	60.3
Wage Enforcement	30.0	30.0
Cigarette Stamp Encryption	12.0	12.0
Reclassification of Cigar Tobacco	11.0	11.0
Elimination of Certain Aircraft Sales Tax Exemptions	8.8	8.8
Elimination of Pesticides Sales Tax Exemptions	3.0	3.0
License Revocation	7.0	7.0
Prepaid Sales Tax on Cigarettes	10.0	10.0
Electronic Recording of Liens	6.0	6.0
Withholding on Real Estate Sales Tax	2.0	2.0
Demand Notice Fee	4.0	4.0
Late Filing Fee Increase	12.0	12.0
DOR Collection Totals	166.1	166.1

Total Tax Initiatives	345.1	345.1

TOTAL Taxes Available for Budget	18,397.0	17,658.3	673.7

Non-Tax Revenue
Federal Reimbursements	6,849.9	6,846.0
Departmental Revenues	2,532.9	1,991.6	443.5
Consolidated Transfers	(20.7)	389.1	(89.0)
Grand Total	27,759.3	26,885.2	1,028.2

*Includes revenue deposited into the Workforce Training Fund, Mass Tourism Fund, Inland Fish and Game Fund, and Stabilization Fund.