- Massachusetts Department of Revenue
October 1, 2002
Tim Connolly
(617) 626-2369
Revenue Commissioner Alan LeBovidge today announced preliminary revenue collections for September totaled $1.548 billion, an increase of $24 million or 1.6 percent more than last September. Year-to-date collections total $3.625 billion, a decrease of $39 million or 1.1 percent less than the first three months of last fiscal year.
Receipts for September were $91 million above the monthly benchmark corresponding to the fiscal year 2003 consensus tax revenue estimate. Year-to-date collections are $47 million above the benchmark.
"While revenue collections were above our expectations for the month, we still ended the quarter down compared to the first quarter of last year," LeBovidge said. "Except for sales and use tax which showed modest growth, our collections in the major tax types were down for the quarter compared to last year.''
Income tax collections for September totaled $783 million, a decrease of $68 million or 8.0 percent less than last August. Withholding tax collections totaled $573 million, a decrease of $6 million or 1.1 percent. Sales and use tax collections were $304 million, an increase of $32 million or 11.6 percent.
Year-to-date income tax collections total $1.917 billion, a decrease of $115 million or 5.7 percent. Income tax withholding for the first three months of fiscal 2003 total $1.677 billion, down $64 million or 3.7 percent. Total sales and use collections are $955 million, an increase of $23 million or 2.5 percent.
Monthly Revenue Report (PDF) (through September 30, 2002)
Monthly revenue, fiscal year-to-date revenue and actual tax collections.
