Tax collections for March $176M above expectations for month
BOSTON (AP) — March tax collections in Massachusetts fell slightly compared to the same month last year, but were still ahead of expectations for the month by about 8.5 percent.
Revenue Commissioner Christopher Harding said Wednesday that the state collected $2.24 billion last month, which was $176 million above predictions for March.
Harding said state revenue officials had anticipated that corporate and business taxpayers would take advantage of a recent change in the corporate filing schedule that shifted the March reporting deadline to April.
He said despite the change, a higher than expected number of corporate taxpayers continued to file in March. He said income and sales tax revenues remained solid.
Year-to-date revenue collections through the first nine months of the 2018 fiscal year are now $892 million ahead of predictions.