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February 2, 2011

January A Strong Month For State Taxes

Tax collections by the Massachusetts Department of Revenue during the month of January beat last year's number by 11 percent.

The state collected a total of nearly $2.1 billion during the first month of the calendar year. That's $28 million above the revised monthly and year-to-date benchmarks.

Corporate and business tax collections for the month totaled $51 million, down 5.3 percent from January 2010. However, year-to-date corporate tax collections are up 5.9 percent.

Sales and use taxes increased 6.2 percent, with the largest growth in motor vehicle tax collections, which increased 12.7 percent to $41 million.

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