- Massachusetts Department of Revenue
Monday, May 1, 2006
Revenue collections for April totaled $2.215 billion, breaking the largest single monthly record set last April, Revenue Commissioner Alan LeBovidge announced today.
The monthly collections increased by $198 million or 9.8 percent over last April. Year-to-date revenue collections totaled $15.078 billion, an increase of $1.148 billion or 8.2 percent. Receipts for April were $123 million above the monthly benchmark, based on January's revised full-year estimate of $18.158 billion.
Year-to-date revenues were $224 million above the new benchmark for the first 10 months of fiscal 2006. Revenues now are trending $837 million above the original benchmark of $17.448 billion set last spring.
"Personal income tax payments with returns and estimated payments on personal income are driving the numbers upward," LeBovidge said. "The numbers are net of sending back nearly $900 million in refunds this tax season."
Income tax collections for April totaled $1.695 billion, an increase of $170 million or 11.1 percent from last April. Withholding tax collections totaled $637 million, an increase of $26 million or 4.2 percent. Sales and use tax collections were $333 million, up $14 million or 4.5 percent. Corporate and business tax collections in April were $52 million, an increase of $14 million or 35.8 percent over last April.
Year-to-date income tax collections were $8.592 billion, an increase of $616 million or 7.7 percent over last year at this time. Year-to-date withholding tax collections were $6.800 billion, up $358 million or 5.5 percent over last year. Sales and use tax collections for the first 10 months of fiscal '06 were $3.332 billion, up $133 million or 4.1 percent over the same period last year. Year-to-date corporate and business tax collections were $1.733 billion, an increase of $450 million or 35.1 percent over last year at this time.
April 2006 Tax Collection Summary (preliminary as of May 1, 2006)