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  • This page, Determination of Whether Net State Tax Revenues Exceeded Allowable State Tax Revenues FY2023 – Exhibit V, is   offered by
  • Office of the State Auditor

Determination of Whether Net State Tax Revenues Exceeded Allowable State Tax Revenues FY2023 – Exhibit V

Calculation of Allowable State Tax Revenues for the Fiscal Year Ended June 30, 2023
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Allowable State Tax Revenues for the Fiscal Year Ended June 30, 2022*$38,871,154,627
Allowable State Tax Growth Factor for the Fiscal Year Ended June 30, 2023x         1.0589083
Allowable State Tax Revenues for the Fiscal Year Ended June 30, 2023$41,160,988,265

*  As defined in Section 2 of Chapter 62F of the Massachusetts General Laws, “allowable state tax revenues” for a fiscal year means the following: beginning after June 30, 1986, an amount equal to the greater of the allowable state tax revenues for the immediately preceding fiscal year multiplied by the allowable state tax growth for the current year, or in any case, no less than the allowable state tax revenues for the preceding fiscal year. Allowable state tax revenues as disclosed in our prior report (No. 2023-5555-3S) totaled $38,871,154,627.

Date published: September 19, 2023

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