BOSTON – Preliminary reports from the Massachusetts Department of Revenue (DOR) show that the state collected nearly $4 billion in revenue during this past March, a mark that’s about $800 million more than collections from March of 2021.
The $3.858 billion figure is also $427 million above their benchmark.
It’s worth noting that the recently enacted elective pass-through entity (PTE) excise impacted recent revenue collections within the Bay State.
With that excise in mind, March 2022 collections were roughly $423 million above collections from March of last year and $455 million more than the benchmark.
So far in Fiscal Year 2022, Massachusetts has collected roughly $27.5 billion. That mark, with the PTE excise accounted for, is nearly 15% more than collections during the same period in FY21 as well as over 6% more than the year-to-date benchmark.
To learn more, visit the DOR’s website by clicking here.
About Brendan Fitzpatrick
