News  December 1998 Revenues Total $1.25 Billion (with accompanying graphics)

January 4, 1999
Ann Murphy / Jeffrey Busha
(617) 626-2251

Acting Revenue Commissioner Bernard F. Crowley, Jr. today announced that revenues for the month of December 1998 totaled $1.27 billion, bringing year-to-date revenues to $6.70 billion, an increase of 8.9 percent over the same period last year.

"We are half way through the current fiscal year and so far there has been steady growth. In the coming months we will be able to get a clearer picture of the overall economic trend with respect to revenues," said Crowley.

December income tax revenues totaled $700.9 million, an increase of $49.1 million or 7.5 percent over December 1998 revenues. Withholding tax revenues totaled $651.3 million, up $56.6 million or 9.5 percent. Sales and use tax collections totaled $272.9 million, down $4.8 million or 1.7 percent. Corporate tax collections totaled $134.6 million, up $11.3 million or 9.1 percent

Year-to-date income tax collections total $3.76 billion, an increase of $338.7 million or 9.9 percent. Withholding tax collections total $3.33 billion, up $267.3 million or 8.7 percent. Sales and use tax collections total $1.61 billion, up $96.1 million or 6.4 percent. Corporate tax collections total $384.7 million, an increase of $38.2 million or 11.0 percent.

• Monthly Revenue Report  (PDF) (through December 31, 1998)
  December 1998 monthly revenue, fiscal year-to-date revenue and actual tax collections.