BOSTON, Mass. (WWLP)– The Massachusetts Department of Revenue (DOR) says that preliminary revenue collections for May 2023 totaled $2.706 billion.

So far, FY2023 year-to-date collections through May totaled approximately $35.026 billion, which is $1.936 billion less than collections in the same period of FY2022, and $999 million or below the updated year-to-date benchmark.

“May revenue collections were above monthly benchmarks and above collections from the same period last year,” said Commissioner Snyder. “May revenue included increases in most major tax types relative to May 2022 collections, including increases in withholding, sales and use tax, and ‘all other’ tax. The increase in withholding is likely related to strong labor market conditions. The increase in sales and use tax is in part due to meals tax. The increase in ’all other’ tax is partially attributable to estate tax, a category that tends to fluctuate.”

Other takeaways from the May report include:

  • Income tax collections for May totaled $1.532 billion, $61 million or 4.1% above benchmark, and $106 million or 7.5% more than May 2022.
  • Withholding tax collections for May totaled $1.381 billion, $9 million or 0.7% above benchmark, and $91 million or 7.0% more than May 2022.
  • Income tax estimated payments for May totaled $72 million, $50 million or 229.0% above benchmark, and $36 million or 103.2% more than May 2022.
  • Income tax returns and bills for May totaled $281 million, $35 million or 14.2% above benchmark, and $27 million or 10.7% more than May 2022.
  • Income tax cash refunds for May totaled $202 million in outflows, $34 million or 20.0% above benchmark, and $48 million or 31.1% more than May 2022.
  • Sales and use tax collections for May totaled $820 million, $34 million or 4.3% above benchmark, and $38 million or 4.9% more than May 2022.
  • Meals tax, a sub-set of sales and use tax, for May totaled $143 million, $22 million or 18.4% above benchmark, and $23 million or 18.7% more than May 2022.
  • Corporate and business tax collections for May totaled $81 million, $16 million or 25.2% above benchmark, and $9 million or 12.3% more than May 2022. 
  • “All other” tax collections for May totaled $273 million, $58 million or 27.2% above benchmark, and $82 million or 42.8% more than May 2022.