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Modest February Tax Revenue Gains In Massachusetts

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Massachusetts is reporting that February tax collections were up more than 4.5 percent compared with last year.

Revenue Commissioner Amy Pitter said Tuesday that preliminary revenue collections came in $46 million higher than last February. Pitter said higher than expected income tax withholding and sales tax revenues offset weaker income tax payments and corporate tax collections to end the month $25 million above the official prediction for February.

Tax collections since the fiscal year began last July total nearly $13.4 billion. That’s $500 million or nearly 4 percent more than a year ago. It’s also $332 million above the year-to-date estimate. Pitter said February is typically the smallest month of the year for new revenue.

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