Related to:
News

News November Revenues Total $1.231 Billion

12/01/2006
  • 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

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 the information you were looking for on this page? * 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 contact information elsewhere on this page or in the footer.
Tell us what you think