Massachusetts collects nearly $2.6B in taxes during January, $97 million above estimate

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BOSTON — The state collected more in tax revenue than expected in January.

Massachusetts Revenue Commissioner Amy Pitter said Wednesday that preliminary tax collections for January totaled nearly $2.6 billion.

That's $149 million or 6.1 percent more than last January.

It's also $97 million above the official estimate for the month.

Pitter said better-than-expected performance in individual income estimated payments and withholding collections combined with better-than-expected sales tax collections to offset weak corporate and business collections.

Pitter said seven months into the fiscal year revenue collections have totaled nearly $13.8 billion.

That's $589 million or 4.5 percent more than this time last fiscal year.

Excluding one-time tax-related settlement payments, collections are $79 million above the estimates for this point in the fiscal year.

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