State tax revenues still below target for September

September is usually one of the biggest months for tax collections


BOSTON (WWLP) – State tax collections continue to come in below expectations, three months into the new fiscal year.

The Massachusetts Department of Revenue collected $2.7 billion in taxes last month, which is a slight improvement from September 2015. Still, total tax collections are lower than expected. That is a bit surprising, because September is one of the biggest months for tax collections.

Preliminary tax collections for the month of September show that sales tax revenues came in $18 million below benchmarks at $526 million.

The Department of Revenue said this is a trend that began earlier this year, meaning fewer Massachusetts residents are spending their money in the Commonwealth.

“Financial times for people at home are a little bit tighter than usual, and so you see that reflected in the sales tax when people are going out to make purchases. I think that’s a trend that will eventually change as time goes on,” said Rep. Todd Smola (R-Warren).

State tax collections are currently running $71 million below benchmarks.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s