Massachusetts tax collections up nearly 12 percent in April
BOSTON (AP) — Massachusetts collected more than $3 billion in taxes in April, a jump of $324 million — or nearly 12 percent — compared with last April.
The revenues were $29 million above estimates for the month and $163 million above estimates so far this fiscal year, which ends June 30.
Income tax collections were up $294 million over last April while corporate and business taxes fell $11 million compared to last April.
Department of Revenue Commissioner Mark Nunnelly said the better-than-expected performance was due to greater-than-anticipated income estimated payments and lower-than-expected refunds.
April is generally the largest tax collection month.
Nunnelly said with two months remaining in the fiscal year, revenue collections for the state totaled $20.4 billion — $1.2 billion or 6.2 percent more than last year at this time.