February 2, 2011
January A Strong Month For State Taxes
By Christina Davis
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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