Massachusetts pulled in more than $4B in taxes in May
BOSTON (AP) — Massachusetts pulled in more than $4 billion in tax collections in May, state Revenue Commissioner Geoffrey Snyder said Thursday.
That’s about $2.26 billion more than the actual collections in May 2020, and $2.1 billion more than predicted for the month.
Year-to-date collections for the current fiscal year — which ends June 30 — are approximately $30.45 billion.
That’s about $5.69 billion or 23% more than collections during the same period last year.
“May revenue included increases in most major categories, particularly personal income tax return payments,” Snyder said in a press release.
“However, historical comparisons to last year and previous years should be viewed with caution due to COVID-related timing changes to the 2020 and 2021 tax filing season as well as responsive measures undertaken to mitigate the impacts of COVID-19,” he added.