Tax Collections Fall Slightly Below September Expectations

moneyBOSTON (AP) — Massachusetts collected more than $2.5 billion in tax collections last month.

That’s about $86 million — or 3.5 percent — more than last September, but about $3 million below expectations for the month.

For the first three months of the fiscal year, which began July 1st, revenues totaled more than $5.9 billion.

That’s $259 million — or 4.6 percent — more than this time last year and $35 million above projections for the fiscal year’s first quarter.

While income collections were $18 million above the monthly estimate for September, corporate and business taxes were $39 million below. Sales and use tax collections also came in lower than expected.

Revenue Commissioner Mark Nunnelly said September is an important tax collection month with both income and corporate and business quarterly estimated payments due September 15th.

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