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Mass. Tax Take Still Climbing In New Fiscal Year

This article is more than 8 years old.

State tax collections are continuing on an upward path as the new fiscal year gets under way in Massachusetts.

The Department of Revenue says in a letter to the House and Senate Ways and Means Committees that total tax collections through the middle of July were running 13.8 percent higher than the same period a year ago.

Officials cautioned, however, that July is a relatively light month for tax collections and that it was too early to gauge sales tax receipts for the month.

The department said earlier this week that tax collections for the last fiscal year that ended June 30 beat projections by $723 million. Administration and Finance secretary Jay Gonzalez hopes to use much of the surplus to replenish the state's reserves, or so-called "Rainy Day Fund."

This program aired on July 21, 2011. The audio for this program is not available.

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