- Massachusetts Department of Revenue
January 2, 2003
Tim Connolly
(617) 626-2369
Revenue Commissioner Alan LeBovidge today announced revenue collections for December totaled $1.393 billion, an increase of $64 million or 4.8 percent from last December. Year-to-date tax collections total $6.975 billion, a decrease of $29 million or 0.4 percent. Receipts for December were $31 million above the midpoint of the benchmark range.
"Better than expected collections from our Tax Amnesty program allowed the monthly number to exceed the benchmark," LeBovidge said. "However, withholding taxes continued to be soft and corporate taxes were weak in December.''
Income tax collections for December totaled $752 million, an increase of $15.6 million or 2.1 percent from last December. Withholding tax collections totaled $676 million, a decrease of $13.8 million or 2.0 percent. Sales and use tax collections were $313 million, up $46 million or 17.3 percent.
Year-to-date income tax collections total $3.783 billion, a decrease of $266 million or 6.6 percent. Income tax withholding for the first six months of fiscal 2003 totals $3.519 billion, down $169 million or 4.6 percent. Total sales and use collections are $1.875 billion, an increase of $28.8 million or 1.6 percent.
Monthly Revenue Report (PDF) (through December 31, 2002)
Monthly revenue, fiscal year-to-date revenue and actual tax collections.
