- Massachusetts Department of Revenue
Revenue Commissioner Alan LeBovidge today announced that preliminary revenue collections for November were $1.231 billion, an increase of $112 million over last November. Total tax collections for the fifth month of fiscal 2007 were $84 million above the revised November benchmark.
Year-to-date collections were $6.980 billion, an increase of $310 million or 4.6 percent over last year. After five months, fiscal '07 collections are $84 million above the revised benchmark. On October 24 the full-year benchmark was raised to $19.132 billion.
"November is among the smallest collections months," LeBovidge said. "However, a large one-time corporate tax payment helped boost the monthly collections."
Income tax collections for November totaled $694 million, an increase of $63 million or 10.0 percent from last November. Withholding tax collections totaled $712 million, an increase of $81 million or 12.7 percent. Sales and use tax collections in November were $324 million, up $0.1 million or 0.02 percent. Corporate and business collections were $63 million, an increase of $58 million from last November.
Year-to-date income tax collections were $3.901 billion, an increase of $213 million or 5.8 percent. Year-to-date withholding tax collections were $3.372 billion, an increase of $180 million or 5.7 percent. Year-to-date sales and use tax revenues were $1.724 billion, an increase of $18 million or 1.1 percent. Year-to-date corporate and business tax collections were $595 million, an increase of $64 million or 12.0 percent.
November 2006 Tax Collection Summary - Preliminary as of December 1, 2006