Mass. Revenues For July Fall $24M Below Estimate

Massachusetts got off to a sluggish start for the new fiscal year, with tax collections falling $24 million below estimates for July.

Revenue Commissioner Navjeet Bal announced Wednesday that preliminary revenue collections for July totaled $1.25 billion.

That's $24 million below the monthly benchmark based on the revenue estimate of nearly $18.9 billion for the new fiscal year.

Income tax collections were $699 million, down more than 8 percent from last July and $8 million below the benchmark. Sales tax collections were $345 million, down 5 percent from the year-ago month and $9 million below the benchmark.

Bal said only corporate and business tax collections came close to estimates.