- Massachusetts Department of Revenue
October 1, 2004
Tim Connolly
(617) 626-2369
Revenue Commissioner Alan LeBovidge today announced that preliminary revenue collections for September were $1.698 billion, an increase of $56 million or 3.4 percent over last September. Total tax collections for the third month of fiscal 2005 were $12 million above the September benchmark.
Year-to-date collections were $4.017 billion, an increase of $219 million or 5.8 percent. After three months, fiscal '05 collections are $100 million above the benchmark.
"We were basically on target for sales and use tax and above the benchmark for total income taxes, our two largest sources of revenue,'' LeBovidge said. "After the first quarter we stand $100 million above the benchmark."
Income tax collections for September totaled $908 million, an increase of $68 million or 8.1 percent over last September. Withholding tax collections totaled $579 million, an increase of $6 million or 1.0 percent. Sales and use tax collections were $315 million, up $2 million or 0.5 percent. Corporate and business tax collections totaled $320 million, a decrease of $28 million or 8.1 percent over last September.
Year-to-date income tax collections were $2.188 billion, an increase of $167 million or 8.3 percent. Year-to-date withholding tax collections were $1.808 billion, an increase of $81 million or 4.7 percent. Year-to-date sales and use tax revenues were $996 million, an increase of $35 million or 3.7 percent. Year-to-date corporate and business tax collections were $374 million, a decrease of $29 million or 7.1 percent.
Monthly Revenue Report (PDF) (through September 30, 2004)
Monthly revenue, fiscal year-to-date revenue and actual tax collections.
