Massachusetts State Tax Collections Rose 7.1% Last Fiscal Year

Massachusetts state tax collections rose 7.1% last fiscal year

Amid months of hand-wringing about the state’s financial footing, Massachusetts ended the most recent budget cycle with tax collections that just about matched the official forecast for modest growth. Tax collections from all sources totaled $43.708 billion in fiscal 2025, a 7.1% increase over fiscal year 2024 and 5.1% more than the benchmark, the Department of Revenue announced Friday. That was driven by growth in the income surtax, capital gai…

Massachusetts collected $2 billion more in tax revenue than expected because of millionaires tax - The Boston Globe

Total revenue collections for fiscal year 2025 totaled approximately $43.7 billion, which is $2.9 billion, or 7.1 percent, more than the state pulled in the prior fiscal year.

Massachusetts tax collections rose 7.1% last fiscal year surpassing benchmark - Legalization Profiles

BYCHRIS LISINSKI Boston.Massachusetts concluded the most recent budget cycle with tax collections that just met the official expectation for modest growth, amid months of hand-wringing over the state’s financial stability. The Department of Revenue said Friday that its fiscal 2025 tax receipts from all sources came to $43.708 billion, a 7.1% rise over fiscal year 2024 and a 5.1% gain over the benchmark. According to DOR Commissioner Geoffrey Sny…

Massachusetts tax collections rose 7.1% last fiscal year surpassing benchmark

BY CHRIS LISINSKI BOSTON.....Amid months of hand-wringing about the state's financial footing, Massachusetts ended the most recent budget cycle with tax collections that just about matched the official forecast for modest growth. Tax collections from all sources totaled $43.708 billion in fisc