November State Revenue Collections Total $2.416 Billion

Massachusetts Department of Revenue (DOR) Commissioner Geoffrey Snyder has announced that preliminary revenue collections for November 2021 totaled $2.416 billion, which is $289 million or 13.6% more than actual collections in November 2020, and $192 million or 8.7% more than benchmark.[1]

FY2022 year-to-date collections totaled approximately $13.612 billion, which is $2.145 billion or 18.7% more than collections in the same period of FY2021, and $914 million or 7.2% more than year-to-date benchmark.

“November 2021 revenue collections increased in most of the major tax types in comparison to November 2020 collections, including withholding, sales and use tax, and ‘all other’ tax,” said Commissioner Snyder. “The increase in withholding is likely related to improvements in labor market conditions. The sales and use tax increase in part reflects continued strength in retail sales and the easing of COVID-19 restrictions. The increase in “all other” tax is primarily attributable to estate tax, a category that tends to fluctuate, as well as room occupancy excise.”

In general, November is among the smaller months for revenue collection because neither individual nor business taxpayers make significant estimated payments during the month. Historically, roughly 6.5% of annual revenue, on average, has been received during November.