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Conclusion of the Determination of Whether Net State Tax Revenues Exceeded Allowable State Tax Revenues

For the fiscal year ended June 30, 2023, we determined that the net state tax revenues of $36,924,461,252 were below the allowable state tax revenues of $41,160,988,265.
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Overview

For the fiscal year ended June 30, 2023, we have determined that the net state tax revenues of $36,924,461,252 were below the allowable state tax revenues of $41,160,988,265 (as defined in Chapter 62F of the Massachusetts General Laws) by $4,236,527,013, resulting in no excess state tax revenues (see Exhibit I). As a result, no credit is required to be issued to taxpayers.

Date published: September 19, 2023

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