Watch CBS News

Massachusetts Tax Revenues Miss The Mark In August

BOSTON (AP) - Massachusetts tax collections were up 3 percent in August compared with the same month a year ago, but fell just short of the state's benchmark for the month.
Revenue Commissioner Navjeet Bal said Friday that overall tax collections were $40 million higher than in August 2010, with corporate and business taxes exceeding benchmarks while withholding taxes fell short of the mark - in part because of timing issues that shifted more collections into the previous month.
Revenue for the first two months of the fiscal year that began July 1 remains $49 million above projections.
Bal says the August revenue figure does not reflect the two-day sales tax holiday, since sales tax collections for the month are not due until Sept. 20.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.