Mass. Collected $2.1B In Taxes In February - Masslive.Com

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Facing an uncertain federal funding picture and some big policy demands, state lawmakers got a shot of budgetary good news this week.

Massachusetts collected $2.1 billion in tax revenue in February, according to recent state Department of Revenue data. That's $125 million, or 6.2% more, than last February, and $122 million, or 6.1%, ahead of projections.

February has historically been the lowest month for revenue, contributing, on average, less than 6% of annual collections, officials said.

Collections last month ⁘included increases relative to February 2024 collections in withholding and 'all other tax,'" state Revenue Commissioner Geoffrey Snyder said in a statement.

Those increases were partly offset by "decreases in non-withheld income tax and corporate and business tax," Snyder added, noting that the "increase in withholding reflects increases in collections from most industries."

A big portion of that so-called "benchmark" performance likely was driven by capital gains and Millionaire Tax collections, officials said.

At a Thursday hearing, Healey administration Budget Czar Matthew Gorzkowicz told House and Senate budget writers that federal cuts would be too big a problem for the executive branch to solve alone.

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