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News December Revenues Total $ 1.784 Billion

1/04/2006
  • Massachusetts Department of Revenue

Wednesday, January 4, 2006
Tim Connolly
(617) 626-2369

Revenue Commissioner Alan LeBovidge today announced revenue collections for December totaled $1.784 billion, an increase of $197 million or 12.4 percent over last December. Receipts for the sixth month of fiscal 2006 were $176 million above the benchmark.

Year-to-date tax collections were $8.454 billion, an increase of $632 million or 8.1 percent over the same period last year. Revenues were $172 million above the revised year-to-date benchmark. On October 26, the full-year benchmark was raised by $509 million to $17.957 billion.

"Collections in most tax types ran above the benchmark and corporate and business tax collections were very strong in December," LeBovidge said.

Income tax collections for December totaled $959 million, an increase of $43 million or 4.7 percent from last December. Withholding tax collections totaled $786 million, an increase of $71 million or 9.9 percent. Sales and use tax collections were $318 million, up $7 million or 2.2 percent. Corporate and business tax collections were $373 million, an increase of $170 million or 83.9 percent.

Year-to-date income tax collections totaled $4.648 billion, an increase of $238 million or 5.4 percent. Income tax withholding for the first six months of fiscal 2006 totaled $3.977 billion, up $201 million or 5.3 percent. Total sales and use collections were $2.023 billion, an increase of $77 million or 3.9 percent. Corporate and business taxes for the first six months of fiscal '06 totaled $904 million, an increase of $337 million or 59.4 percent.

December 2005 Tax Collection Summary (preliminary as of January 3, 2006)

Massachusetts Department of Revenue  

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

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