- Associated Press - Wednesday, June 3, 2015

BOSTON (AP) - Massachusetts collected more than $1.8 billion in taxes in May, a jump of $214 million - or 13.2 percent - compared with last May.

Department of Revenue Commissioner Mark Nunnelly said a surge in withholding collections is largely responsible for the increase in revenues along with greater than expected income tax payments with returns and bills.

With one month to go in the 2015 fiscal year, total year-to-date collections of more than $22 billion are $1.2 billion - or 5.9 percent - above that of a year ago and $389 million above predictions.

Nunnelly said the increase in withholding collections is evidence of improvements in labor markets.

Income tax withholding totaled $915 million for the month, up $111 million or 13.8 percent over last year and $81 million ahead of predictions.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide