BOSTON (AP) - Massachusetts tax collections have again fallen below expectations.
Revenue officials said Wednesday that preliminary revenue collections for March totaled $2.28 billion. That’s $81 million, or 3.4 percent, below the monthly benchmark.
For the 2017 fiscal year so far, revenue collections are $18.13 billion.
While that’s above last year’s tax collections at this point in the fiscal year, it’s also $220 million - or 1.2 percent - below expectations for this point in the current fiscal year.
Revenue Commissioner Michael Heffernan said the next three months - April, May, and June - contribute roughly 30 percent of the state’s tax collections for the year, with April alone responsible for about 12 percent of the total annual tax collections.
Heffernan said he’ll continue to monitor revenues in the fiscal year’s final months.
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