Massachusetts Tax Collections Beat Expectations

BOSTON (AP) – Massachusetts tax collections totaled $3.99 billion in September.

That’s 27% more than tax collections in September 2020 and 14.3% more than predictions for the month.

Year-to-date collections for the 2022 fiscal year totaled approximately $8.75 billion, which is 20.7% more than collections in the same period during the 2021 fiscal year and 6.4% more than year-to-date predictions.

In general, September is a significant month for revenues because many individuals and corporations are required to make estimated payments. Roughly 10% of annual revenue is typically collected during September.

From: The Associated Press

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Brendan, a recent graduate from the University of Massachusetts Amherst, is one of the newest members of the NewsCenter team. When not on the beat, you'll probably find him watching Boston sports.
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