EagleTribune.com, North Andover, MA

Merrimack Valley

March 6, 2014

Official: Mass. tax collections up in February

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BOSTON (AP) — Massachusetts officials say monthly tax collections are continuing to exceed expectations.

State Revenue Commissioner Amy Pitter says revenues collected in February totaled more than $1.3 billion.

That's an increase $281 million over the same month a year ago, a jump of nearly 27 percent.

Last month's performance also exceeded the state's revised estimate for the month by $206 million.

Pitter said nearly all of the February surplus can be attributed to "significant settlement-related corporate and business tax payments."

She said that was offset by relatively weak performance in sales and use tax collections and higher income tax refunds.

Revenue collections eight months into the fiscal year totaled $14.5 billion.

That's $1.1 billion or 8.5 percent more than at this time last year and $288 million above the updated estimates.

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