Massachusetts tax revenues took hit from heavy winter snows; collections lagged in March

bug


We also have more stories about:
(click the phrases to see a list)

Subjects:

Places:

 


BOSTON — Massachusetts roads, public transportation and patience weren't the only things stressed during this winter's punishing snowfalls.

The state's tax returns also took a hit.

Revenue Commissioner Mark Nunnelly said Friday that the state's sales and use taxes are lagging "undoubtedly due to weather-related sales losses."

Revenue collections for March totaled just over $2 billion. That's $82 million — or 4.2 percent — more than last March, but $99 million below projections.

Nine months into the fiscal year, Massachusetts revenues are $132 million above projections.

Nunnelly said that despite strong performance in estate tax collections, March revenue collections were more than offset by the release of tax refunds that had been held up in February for additional scrutiny.

He said corporate and business taxes were up $103 million over last March.

All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Click here to read our privacy policy.