Press Release  January Revenue Collections Total $4.333 Billion

Boston, MA — Massachusetts Department of Revenue (DOR) Commissioner Geoffrey Snyder today announced that preliminary revenue collections for January totaled $4.333 billion, $233 million or 5.7% more than actual collections in January 2025, and $506 million or 13.2% above benchmark.^[1]

FY2026 year-to-date collections totaled approximately $23.970 billion, which is $611 million or 2.6% more than actual collections in the same period of FY2025, and $532 million or 2.3% above the year-to-date benchmark.

“January 2026 revenue included increases relative to January 2025 collections in non-withholding income tax, and ‘all other tax’” said Commissioner Snyder. “These increases were partially offset by decreases in withholding income tax and sales tax. The increase in non-withholding income tax is primarily driven by a likely increase in capital gains tax and the income surtax. The increase in ‘all other’ tax is mostly due to an increase in estate tax, a category that tends to fluctuate. The decrease in withholding and sales tax is due, in part, to typical timing factors in tax collections.”

January is a significant month for revenues because many personal income taxpayers are required to make quarterly estimated payments. Historically, roughly 10.2% of annual revenue, on average, has been received during January. Given the brief period covered in the report, January results should not be used as a predictor for the rest of the fiscal year. 

Details:

• Income tax collections for January totaled $3.008 billion, $372 million or 14.1% above benchmark, and $103 million or 3.6% more than January2025.
• Withholding tax collections for January totaled $1.672 billion, $43 million or 2.6% above benchmark, but $55 million or 3.2% less than January 2025.
• Income tax estimated payments for January totaled $1.278 billion, $332 million or 35.1% above monthly benchmark, and $185 million or 16.9% more than January2025.
• Income tax returns and bills for January totaled $111 million, $6 million or 5.5% above benchmark, but $16 million or 12.3% less than January2025.
• Income tax cash refunds for January totaled $54 million in outflows, $10 million or 22.1% above benchmark, and $12 million or 27.5% more than January2025.
• Sales and use tax collections for January totaled $883 million, $46 million or 4.9% below benchmark, and $48 million or 5.2% less than January 2025.
• Corporate and business tax collections for January totaled $94 million, $10 million or 12.2% above benchmark, and virtually equal to January2025.
• “All other” tax collections for January totaled $349 million, $171 million or 95.8% above benchmark, and $179 million or 105.3% more than January 2025.
   

January 2026 Tax Collections Summary (in $ millions) Preliminary as of February 4, 2026 (XLSX)

Footnotes

[1]

FY2026 monthly revenue benchmarks are posted on the DOR website.

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