News  September 1999 Revenues Total $1.5 Billion (with accompanying graphics)

October 1, 1999
Nicole St. Peter
(617)626-2201

Revenue Commissioner Frederick A. Laskey today announced that revenue collections for the month of September totaled $1.52 billion, up $3.3 million or 0.2 percent from last September. Year-to-date revenue collections totaled $3.51 billion, up $67.8 million or 2.0 percent above last year. Collections for FY2000 are $85 million above the midpoint of the estimate range.

"Overall revenue collections, particularly income and sales taxes, continue to grow at a healthy rate, especially in light of the large tax cuts that reduced personal income tax withholding and estimated payments in September," said Laskey.

Income tax collections for September totaled $785.9 million, a decrease of $2.0 million or 0.2 percent when compared to September 1998. The small decrease is due to the phase in of several of the tax cuts. Withholding tax collections totaled $536.6 million, up $30.3 million or 6.0 percent. Sales and use tax collections totaled $275.4 million, up $29.5 million or 12.0 percent. Corporate collections totaled $223.5 million, up $37.4 million, or 20.1 percent.

Year-to-date revenue collections totaled $3.51 billion, up $67.8 million or 2.0 percent compared to last year at this time. Income tax collections totaled $1.91 billion, up $49.1 million or 2.6 percent. Withholding collections totaled $1.70 billion, up $89.1 million or 5.7 percent. Total sales and use tax collections totaled $865.8 million, up $61.9 million or 7.7 percent. Corporate collections totaled $244.4 million, up $6.0 million or 2.5 percent.

Monthly Revenue Report (PDF) (through September 31, 1999)
September 1999 monthly revenue, fiscal year-to-date revenue and actual tax collections.