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News February 2000 Revenues Total $865.3 Million (with accompanying graphics)

3/02/2000
  • Massachusetts Department of Revenue

March 2, 2000
Patricia Campbell Malone / Jeffrey Busha
(617) 626-2251

Revenue Commissioner Frederick A. Laskey today announced that revenue collections for February 2000 totaled $865.3 million, up $113.5 million or 15.1 percent from last February. Year-to-date revenue collections totaled $9.59 billion, up $563.0 million or 6.2 percent above last year. Collections for FY2000 are $102 million above the midpoint of the revenue estimate range, which is based on the Administration & Finance annual estimate of $15.288 billion.

"Revenue collections continue to remain strong. Income, withholding and sales tax collections all show solid growth from last year," said Laskey.

Income tax collections for February, which included an extra deposit day, totaled $481.0 million, an increase of $83.8 million or 21.1 percent when compared to February 1999. Withholding tax collections totaled $696.8 million, up $102.7 million or 17.3 percent. Sales and use tax collections totaled $263.3 million, up $33.6 million or 14.6 percent. Corporate collections totaled $16.6 million, up $975,000 or 6.3 percent compared to last February.

Year-to-date income tax collections totaled $5.65 billion, up $375.9 million or 7.1 percent. Withholding collections totaled $4.94 billion, up $400.3 million or 8.8 percent. Total sales and use tax collections totaled $2.35 billion, up $195.3 million or 9.1 percent. Corporate collections totaled $431.0 million, up $13.9 million or 3.3 percent.

Monthly Revenue Report  (PDF) (through February 31, 2000)
February 2000 monthly revenue, fiscal year-to-date revenue and actual tax collections.

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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