State Revenue Collections Beat Benchmarks
State revenue collections totaled $2.1 billion in June, a 5 percent rise from last year, according to the Department of Revenue.
For the year, the state has collected $20.5 billion so far, which is a 10.6 percent increase from last year and $723 million above benchmarks.
"The increase of nearly $2 billion in collections reflects a Massachusetts economy that grew noticeably stronger over the past 12 months," said Navjeet Bal, the state's revenue commissioner.
Corporate and business taxes were up $18 million, or 4.2 percent, to $436 million in June compared to last year, but were $29 million below expectations.
For the full year, corporate and business taxes totaled $2.2 billion, up 5.1 percent from last year but $3 million below estimates for the year.
June sales taxes were down $1 million compared to last year to $423 million.
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