Tax Revenues Up
BOSTON (AP) — Massachusetts is enjoying strong tax collections with revenues surging over predictions in March.
Massachusetts Revenue Commissioner Christopher Harding said Wednesday the state took in $2.67 billion during the month. That’s $316 million or 13.4% above the monthly benchmark.
It’s also $427 million or 19% more than what the state took in during March of last year.
For the fiscal year-to-date through March, the state has collected $20.2 billion. That’s $19 million — or one-tenth of one percent — more than the year-to-date estimate.
It’s also $796 million or 4.1% more than the same fiscal year-to-date period in 2018.
Harding said with about 71% of tax revenues collected for the 2019 fiscal year that ends June 31, year-to-date revenues are now essentially even with predictions for this point in the year.
Imagine how much higher these numbers would be if Cape Cod allowed cannabis sales (pun intended).