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Article: State tax revenues plunge 35% in April compared to 2008
- Article from:
- The Patriot Ledger Quincy, MA
- Article date:
- May 5, 2009
CopyrightCopyright 2009 The Patriot Ledger Quincy, MA. Provided by ProQuest LLC. (Hide copyright information)
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BUSINESS IN BRIEF
State tax revenues plunge 35% in April compared to 2008
BOSTON - The state's tax revenues plunged by 34.9 percent in
April from the same month in 2008, largely due to a massive decline
in capital gains taxes, according to the state Department of
Revenue.
The agency reported on Monday that it collected $1.8 billion in
taxes last month, down $953 million from the same month a year ago.
The state's personal income tax collections contributed to most of
the declines.
Total tax collections in the first 10 months of the state's
fiscal year have fallen 11.3 percent from the same period a year
ago.
State legislators had been bracing for a devastating month for
tax collections in ...