Related to:
News

News May Revenues Total $1.327 Billion

6/01/2005
  • Massachusetts Department of Revenue

June 1, 2005
Tim Connolly
(617) 626-2369

Revenue Commissioner Alan LeBovidge today announced revenue collections for May totaled $1.327 billion, an increase of $122 million or 10.1 percent over last May. Year-to-date revenue collections totaled $15.258 billion, an increase of $1.077 billion or 7.6 percent. Receipts for May were $68 million above the monthly benchmark while year-to-date revenues are $377 million above the benchmark. The fiscal 2005 benchmark was revised April 15 to $16.650 billion. "We are still benefiting from stronger than expected income tax payments with returns," LeBovidge said. "The year-to-date surplus of $377 million is almost entirely accounted for by the income tax."

Income tax collections for May totaled $801 million, an increase of $85 million or 11.9 percent over last May. Withholding tax collections totaled $628 million, an increase of $36 million or 6.0 percent over last May. Sales and use tax collections were $332 million, up $15 million or 4.8 percent from last May. Net corporate and business tax collections in May were $41 million, an increase of $25 million or 157.2 percent over last May.

Year-to-date income tax collections totaled $8.776 billion, an increase of $802 million or 10.1 percent over last year. Year-to-date withholding tax collections were $7.070 billion, up $290 million or 4.3 percent. Sales and use tax receipts for the first 11 months of fiscal 2005 were $3.532 billion, up $140 million or 4.1 percent. Year-to-date net corporate and business taxes were $1.324 billion, an increase of $36 million or 2.8 percent.

Monthly Revenue Report (PDF) (through May 31, 2005)
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.

Feedback

Did you find what you were looking for on this webpage? * required
We use your feedback to help us improve this site but we are not able to respond directly. Please do not include personal or contact information. If you need a response, please locate the contact information elsewhere on this page or in the footer.
We use your feedback to help us improve this site but we are not able to respond directly. Please do not include personal or contact information. If you need a response, please locate the contact information elsewhere on this page or in the footer.

If you need to report child abuse, any other kind of abuse, or need urgent assistance, please click here.

Tell us what you think