Related to:
News

News April Collections Total $1.781 Billion

5/04/2009
  • Massachusetts Department of Revenue

Monday, May 4, 2009
Robert R. Bliss
blissr@dor.state.ma.us
617-626-2369

Monthly collection is nearly $1 billion less than one year ago; steep capital gains decline pushes revenues $456 million below benchmark

Revenue Commissioner Navjeet K. Bal today announced that preliminary revenue collections for April 2009 totaled $1.781 billion, down $953 million or 34.9 percent from last April.

Total tax collections were $456 million below the benchmark corresponding to the April 15 revised FY09 revenue estimate of $19.333 billion. The decline was due largely to income tax collections, which fell $905 million or 40.7 percent from April 2008, $420 million below benchmark.

FY09 year-to-date tax collections total $15.187 billion, down $1.936 billion from a year ago. Taxpayers received $382 million in refunds in April, up $77 million or 25.3 percent from a year ago, $64 million higher than in the monthly benchmark.

"The April shortfall is almost certainly the result of a decline in capital gains taxes, with a drop in interest and dividend income also likely playing a role," Bal said.

April 2009 withholding taxes totaled $665 million, down $20 million or 3.0 percent from a year ago, $28 million below the benchmark. Income tax payments with returns and bills totaled $864 million, down $681 million or 44.1 percent from a year ago and $292 million below the benchmark. Income tax estimated payments were $169 million, down $125 million or 42.4 percent from a year ago and $35 million below benchmark.

April is not a big month for corporate/business tax collections, which totaled $27 million for the month, down $22 million or 44.9 percent from a year ago and $18 million below the monthly benchmark.

Sales and use tax collections of $309 million in April 2009 were down $28 million or 8.2 percent from a year ago and were $17 million below the monthly benchmark. The only subset of sales tax collection holding its own is the meals tax which is unchanged from a year ago and just $1 million below benchmark for the month.

On a fiscal 2009 year-to-date basis, sales and use tax collections are $184 million or 5.4 percent below the same period a year ago, $17 million below the benchmark. Corporate/business taxes year-to-date are $335 million or 16.8 percent below the same period a year ago, $18 million below the benchmark. Income tax collection year-to-date is $8.884 billion or 13.6 percent below the same period a year ago and $420 million below the benchmark.

FY2009 Year-to-Date Tax Revenue through April 30, 2009 

April 2009 Tax Collection Summary (preliminary as of May 4, 2009) 

Massachusetts Department of Revenue  

The Massachusetts Department of Revenue manages state taxes and child support. We also help cities and towns manage their finances.

Feedback

Did you find the information you were looking for on this page? * required
We use your feedback to help us improve this site but we are not able to respond directly. Please do not include personal or contact information. If you need a response, please locate contact information elsewhere on this page or in the footer.
Tell us what you think