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(Boston, MA) – Massachusetts Department of Revenue Commissioner Christopher C. Harding today announced that preliminary revenue collections for November totaled $1.737 billion, which is $25 million or 1.5% above the monthly benchmark, and $247 million or 16.6% more than the actual collections in November 2016.
For the fiscal year-to-date through November, revenue collections totaled $9.921 billion, $204 million or 2.1% more than the year-to-date benchmark and $452 million or 4.8% more than the same fiscal year-to-date period in 2016.
“November’s results were consistent with our expectations for steady, modest growth. The main driver for November revenues exceeding the monthly benchmark was that we processed less in refunds this November compared to last November, which are partly offset by slightly lower than expected corporate & business taxes," said Commissioner Harding. "Most of the monthly growth was expected and reflected in the benchmark; last November’s collections were low in historical standard due to timing factors.”
November is one of the smallest tax collection months of the year, as there are no quarterly estimated payments due for individuals and most corporations.