Massachusetts tax collections top $2.4 billion for December
BOSTON >> Massachusetts collected more than $2.4 billion in tax revenues in December.
That's a jump of 5.2 percent compared to the previous December — and $38 million above expectations for the month.
Halfway through the 2016 fiscal year, revenues total $11.7 billion, about $114 million more than anticipated.
The numbers are particularly important as Republican Gov. Charlie Baker eyes potential budget cuts. Non-tax revenues, like state fees, have been running below expectations.
Revenue Commissioner Mark Nunnelly says December's growth was based on individual tax payments, corporate and business collections, and sales and use taxes that were stronger than anticipated.
Nunnelly says it's too early to tell how much of December's increase comes from core economic growth like sales tax and how much comes from more volatile sources like capital gains income.
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