News  November 2000 Revenues Total $1.085 Billion

December 7, 2000
Tim Connolly
(617) 626-2369

Nicole St. Peter
(617) 626-4058

Revenue Commissioner Frederick A. Laskey today announced that revenue collections for the month of November totaled $1.085 billion, up $38 million or 3.7 percent from November 1999, bringing year-to-date revenue collections to $6.129 billion, up $527 million, or 9.4 percent from last year. Collections for FY2001 are $237 million above the midpoint of the benchmark estimate range.

"Revenue collections remain above year-to-date projections," said Laskey. "Income withholding collections continue to come in at a steady and strong pace."

Income tax collections for November totaled $686 million, an increase of $82 million or 13.5 percent over November 1999. Withholding tax collections totaled $714 million, an increase of $84 million or 13.3 percent. Sales and use tax collections totaled $274 million, down $19 million or 6.5 percent. Corporate tax collections were $3 million, a decrease of $28 million or 111.7 percent.

Year-to-date income tax collections totaled $3.590 billion, up $428 million or 13.6 percent. Income withholding collections totaled $3.211 billion, an increase of $366 million or 12.9 percent. Total sales and use tax collections were $1.557 billion, up $98 million or 6.7 percent. Corporate collections totaled $195 million, down $34 million or 14.7 percent.