Comptroller Fiscal Year Memo Letter Head

 

March 7, 2013

Glen Shor, Secretary for Administration and Finance
State House, Room 373
Boston, MA 02133

Representative Brian S. Dempsey, Chairman
House Ways and Means Committee
State House, Room 243
Boston, MA 02133

Senator Stephen M. Brewer, Chairman
Senate Ways and Means Committee
State House, Room 212
Boston, MA 02133

Re:  Capital Gains Tax Revenues

Dear Secretary Shor, Chairman Dempsey and Chairman Brewer:

Pursuant to certification received from the Commissioner of Revenue in accordance with Section 5G of Chapter 29 of the General Laws, the tax revenue estimated to have been collected during FY2013 (July 1, 2012 through January 31, 2013) from capital gains income was $537.8 million. As the tax revenues estimated to have been collected from capital gains income do not exceed the $1,000,000,000 threshold set for fiscal year 2013, no transfer will be made to the Stabilization Fund at this point in the fiscal year.

Should you have any questions, please feel free to contact me.

Sincerely,

 

Martin J. Benison

Comptroller

 

cc:      
Emme Schultz, Budget Director            
Amy Pitter, Commissioner of Revenue            
James MacDonald, First Deputy Treasurer            
Howard Merkowitz, Deputy Comptroller