- Massachusetts Department of Revenue
Media Contact for December Revenue Collections Total $2.611 Billion
Naysa Woomer
(Boston, MA) — Massachusetts Department of Revenue (DOR) Acting Commissioner Kevin Brown today announced that preliminary revenue collections for December totaled $2.611 billion, which is $44 million or 1.7% more than the actual collections in December 2018, and $40 million or 1.5% less than benchmark.1
“Revenues for the month of December were slightly below benchmark, but above the prior year. On a fiscal year-to-date basis, we continue to see steady, moderate revenue growth. The slightly below benchmark performance in December is due to a shortfall in withholdings and regular sales tax, which was partly offset by the surplus in corporate and business taxes and non-withheld income tax," said Acting Commissioner Brown. “The lower December withholding figures follow a strong November for withholding, which indicates a timing shift rather than a changing trend. Halfway through the fiscal year, state tax revenue collections are moderately above benchmark on a year-to-date basis.”
In recent years, December has contributed an average of 9.5% total annual collections, ranking number five among the twelve months of the year for share of collections. Estimated Payments for Corporate & Business Taxes are due in the month. Income Estimated Payments also begin to come in December.
- December 2019 revenues of $2.611 billion were $44 million or 1.7% more than last December, and $40 million below benchmark
- Income tax collections were $1.431 billion, $19 million or 1.3% short of last December, and $83 million below benchmark
- Withholding tax collections (a subcategory of income tax) were $1.262 billion, $57 million or 4.3% less than last December, and $111 million below benchmark
- Sales and use tax collections were $591 million, $35 million or 6.3% ahead of last December, but $8 million below benchmark
- Corporate and business taxes were $386 million, $18 million or 4.8% more than last December, and $50 million above benchmark
- Other taxes, which include motor fuels, cigarette, estate, and other tax categories, were $202 million, $10 million or 5.1% ahead of last December, and roughly on target
Details:
- Income tax collections for December were $1.431 billion, $83 million or 5.5% below benchmark, and $19 million or 1.3% less than December 2018.
- Withholding tax collections for December totaled $1.262 billion, $111 million or 8.1% below benchmark, and $57 million or 4.3% less than December 2018.
- Income tax estimated payments totaled $141 million for December, $15 million or 11.5% more than benchmark, and $20 million or16.3% more than December 2018.
- Income returns and bills totaled $35 million for December, $1 million or 3.7% less than benchmark, and $2 million or 6.1% less than December 2018.
- Income cash refunds in December totaled $7 million in outflows, $15 million or 69.0% less than benchmark, and $20 million or 75.1% less than December 2018.
- Sales and use tax collections for December totaled $591 million, $8 million or 1.3% below benchmark, but $35 million or 6.3% more than December 2018.
- Corporate and business tax collections for the month totaled $386 million, $50 million or 15.0% above benchmark, and $18 million or 4.8% more than December 2018.
- Other tax collections for December totaled $202 million, roughly on target, and $10 million or 5.1% more than December 2018.
December 2019 Tax Collection Summary (in $ millions) Preliminary as of January 6, 2020
1 The FY20 revenue benchmark of $30.099 billion was used in building the signed FY20 General Appropriations Act.
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