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News November Revenues Total $1.119 Billion

12/01/2005
  • Massachusetts Department of Revenue

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

Revenue Commissioner Alan LeBovidge today announced that preliminary revenue collections for November were $1.119 billion; the same amount collected last November. Total tax collections for the fifth month of fiscal 2006 were $4 million below the revised November benchmark.

Year-to-date collections were $6.670 billion, an increase of $435 million or 7.0 percent over last year. After five months, fiscal '06 collections are $4 million below the revised benchmark. On October 26, the full-year benchmark was raised by $509 million to $17.957 billion.

"November is a small collections month," LeBovidge said. "While most tax types were off slightly versus the new benchmark, overall collections year-to-date are still outpacing last year by 7 percent."

Income tax collections for November totaled $631 million, a decrease of $16 million or 2.5 percent from last November. Withholding tax collections totaled $632 million, a decrease of $19 million or 2.9 percent. The withholding total was reduced by a timing change that led to a shift of $45 million from November to October. Without that timing change withholding tax collections would have been up $26 million over last November.

Sales and use tax collections in November were $324 million, up $14 million or 4.6 percent. Corporate and business collections were $5 million, a decrease of $19 million from last November.

Year-to-date income tax collections were $3.688 billion, an increase of $195 million or 5.6 percent. Year-to-date withholding tax collections were $3.191 billion, an increase of $130 million or 4.3 percent. Year-to-date sales and use tax revenues were $1.706 billion, an increase of $70 million or 4.3 percent. Year-to-date corporate and business tax collections were $531 million, an increase of $167 million or 45.7 percent.

November 2005 Tax Collection Summary (preliminary as of December 1, 2005)

 

Massachusetts Department of Revenue  

The Massachusetts Department of Revenue manages state taxes and child support. We also help cities and towns manage their finances.

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