- Massachusetts Department of Revenue
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Nathalie Dailida
Boston, MA — Massachusetts Department of Revenue (DOR) Commissioner Geoffrey Snyder today announced that preliminary revenue collections for June totaled $4.832 billion, $274 million or 6.0% more than actual collections in June 2025, and $205 million or 4.4% above benchmark.[1]
Revenue collections for fiscal year 2026 totaled approximately $45.542 billion[2], which is $1.837 billion or 4.2% more than actual collections in the same period of FY2025, and $1.928 billion or 4.4% above the year-to-date benchmark. “The increase in fiscal year 2026 revenue collections in comparison to fiscal year 2025 is mostly driven by withholding, surtax[3], capital gains tax[4], sales and use tax, and ‘all other’ tax. These increases were partially offset by a decrease in corporate and business tax. The increase in withholding is driven, in part, by higher collections from firms in the financial services, professional and scientific, manufacturing, and healthcare industries. The increase in sales and use tax was primarily driven by an increase in regular sales tax, which in turn was driven by higher collections from firms in the retail trade, information, utilities, real estate and leasing, and finance and insurance industries. The increase in ‘all other’ tax is mostly attributable to estate tax, a category that tends to fluctuate. The decrease in corporate and business taxes was mostly due to a decrease in estimated payments and an unfavorable increase in refunds,” said Commissioner Snyder.
On July 20, 2026, DOR certified that the preliminary estimate of surtax revenue collected in fiscal year 2026 was $3.380 billion[5]. On the same day, DOR also certified that the preliminary estimate of capital gains tax revenue collected in fiscal year 2026 was $3.216 billion[6]. FY2026 actual collections, excluding the combined impact of surtax revenue and capital gains tax revenue, totaled $38.945 billion, which is $58 million or 0.1% above the FY2026 benchmark excluding both surtax and capital gains tax.
June is a significant month for revenues because many individuals and corporations are required to make estimated payments in June. Historically, roughly 11.1% of annual revenue, on average, has been received during June, making it the second or third largest revenue month of the year.
Details:
Preliminary June Revenue Collections:
- Income tax collections for June totaled $2.815 billion, $226 million or 8.7% above benchmark, and $209 million or 8.0% more than June 2025.
- Withholding tax collections for June totaled $1.608 billion, $32 million or 1.9% below benchmark, but $27 million or 1.7% more than June 2025.
- Income tax estimated payments for June totaled $1.155 billion, $195 million or 20.3% above benchmark, and $134 million or 13.1% more than June 2025.
- Income tax returns and bills for June totaled $147 million, $32 million or 27.7% above benchmark, and $23 million or 18.5% more than June 2025.
- Income tax refunds (outflows) for June totaled $95 million, $31 million or 24.7% below benchmark, and $26 million or 21.1% less than June 2025.
- Sales and use tax collections for June totaled $972 million, $80 million or 9.0% above benchmark, and $124 million or 14.6% more than June 2025.
- Corporate and business tax collections for June totaled $826 million, $84 million or 9.3% below benchmark, and $30 million or 3.6% less than June 2025.
- “All other” tax collections for June totaled $219 million, $18 million or 7.4% below benchmark, and $29 million or 11.5% less than June 2025.
Preliminary Fiscal Year 2026 Revenue Collections:
- Income tax totaled $28.751 billion, $2.111 billion or 7.9% above benchmark, and $2.039 billion or 7.6% more than fiscal year 2025.
- Withholding collections totaled $20.243 billion, $414 million or 2.1% above benchmark, and $1.187 billion or 6.2% more than fiscal year 2025.
- Estimated payments totaled $5.312 billion, $753 million or 16.5% above benchmark, and $550 million or 11.6% more than fiscal year 2025.
- Income tax payments with returns and bills totaled $6.255 billion, $953 million or 18.0% above benchmark, and $480 million or 8.3% more than fiscal year 2025.
- Income tax refunds (outflows) totaled $3.058 billion, $8 million or 0.3% above benchmark, and $178 million or 6.2% more than fiscal year 2025.
- Sales and use tax collections totaled $9.790 billion, $157 million or 1.6% above benchmark, and $191 million or 2.0% more than fiscal year 2025.
- Corporate and business tax collections totaled $4.170 billion, $580 million or 12.2% below benchmark, and $498 million or 10.7% less than fiscal year 2025.
- “All other” tax collections totaled $2.830 billion, $239 million or 9.2% above benchmark, and $105 million or 3.8% more than fiscal year 2025.
Footnotes
[1]
FY2026 monthly revenue benchmarks are posted on the DOR website.
[2]
Excludes $27 million in year-to-date revenue reclassified as settlement and judgment payments.
[3]
On July 20, 2026, DOR certified that the amount of revenue estimated to have been collected from the additional 4% income tax (i.e., surtax) was $3.380 billion in fiscal year 2026. In comparison, the full fiscal year 2026 budgeted surtax benchmark equals $2.400 billion.
[4]
On July 20, 2026, DOR certified the amount of revenue estimated to have been collected from capital gains tax was $3.216 billion in fiscal year 2026. In comparison, the full fiscal year 2026 budgeted capital gains tax benchmark equals $2.327 billion.
[5]
The preliminary estimate of fiscal year 2026 revenue from the surtax is subject to revision as DOR continues to analyze tax data. Any revisions will be reflected in the December 2026 final report of fiscal year 2026 tax revenue from the surtax.
[6]
The preliminary estimate of fiscal year 2026 capital gains tax revenue is subject to revision as DOR continues to analyze tax data. Any revisions will be reflected in the November 2026 final report of fiscal year 2026 tax revenue from capital gains income.
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