Tax Collections Fall $117M Below Expectations for February

BOSTON (AP) — Massachusetts tax collections have fallen $117 million below expectations for February.

Department of Revenue Commissioner Michael Heffernan said Friday that preliminary revenue collections for February totaled $1.18 billion — which is about 9 percent below the benchmark for the month.

For the fiscal year to date — which began July 1 — the state has collected $15.85 billion. That’s $134 million, or 0.8 percent, below estimates for the fiscal year, which ends June 30.

February is historically the lowest tax collection month of the year.

Heffernan said the administration is maintaining a cautious outlook, noting that the remaining four months of the fiscal year have historically delivered nearly 40 percent of total annual revenues.

He said the department will be monitoring revenue trends closely.