Tax

Mass. tax take beats projections in February

AP News
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Posted: Mar 05, 2012 4:56 PM
Mass. tax take beats projections in February

Massachusetts officials say tax revenue collections beat projections in February after falling short of goals in the two previous months.

The Revenue Department said Monday that the state collected slightly more than $1 billion last month, an 8.5 percent increase over the same month a year ago. The take was $38 million above the benchmark state officials had set for February.

Collections missed the January benchmark by $44 million and were $87 million below projections in December.

Officials cited several factors for the February performance, including higher-than-expected income tax withholding. Sales and corporate tax collections were also higher.

Officials said February is generally one of the smallest overall tax collection months of the year.