State increases its tax revenue collection for 2014

Massachusetts ended the 2014 fiscal year having collected nearly $23.4 billion in tax revenues

Photo Courtesy: MGNonline
Photo Courtesy: MGNonline

BOSTON (AP) — Massachusetts ended the 2014 fiscal year having collected nearly $23.4 billion in tax revenues — an increase of about $1.2 billion or 5.6 percent over the prior fiscal year.

The revenues also came in about $169 million over the estimate for the fiscal year, which ended June 30, according to preliminary revenue collections.

Revenue Commissioner Amy Pitter said the collections outpaced expectations as the state ended the fiscal year on a high note.

She said collections for June totaled more than $2.5 billion. That’s about $65 million, or 2.6 percent, more than the state took in during June 2013.

Pitter said the expectations for the 2014 fiscal were based on what she called “anticipated continued moderate growth in the economy.”

She said that’s exactly what happened.

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