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First Half Fiscal Year 2025 Tax Collections: 1% Over Benchmark

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  • First Half Fiscal Year 2025 Tax Collections: 1% Over Benchmark
January 9, 2025
dept of revenue

On Monday, the Massachusetts Department of Revenue reported to the Legislature that revenue figures for the month of December 2024 totaled $4.35 billion, $267 million or 6.5% above the benchmark for the month. The December rebound in revenue enabled the state to remain on budget for tax collections over the first half of Fiscal Year 2025. Specifically, for the 6-month July through December 2024 period, year-to-date collections totaled approximately $19.3 billion, $159 million or 0.8% above the year-to-date revenue benchmark.

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