Mass. tax collections fall below estimate in March
BOSTON—Massachusetts officials say tax revenue collections fell short of projections in March.
The Revenue Department said Monday that the state collected about $1.8 billion in March. That's up 1.6 percent over the same month a year ago, but $29 million short of the estimate for last month.
Revenue Commissioner Amy Pitter blamed the sluggish numbers on a slowdown in corporate and business tax collections. March is the largest corporate and business excise tax collection month of the year.
So far this fiscal year, the state has collected about $14.7 billion in taxes. That's up $343 million or 2.4 percent from the same period a year ago, but $87 million below projections.
Tax revenue collections beat projections in February after falling short of goals in the two previous months.