Mass. tax collections over projections in December

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Mass. tax collections over projections in December

By CBS 3 Springfield News

BOSTON (AP) - Tax collections in Massachusetts were up $21
million last month in comparison to the same time in 2007. But
collections would have been sharply off if not for some sizable
one-time corporate tax payments, and the state's finances remain
troubled.

Revenue Commissioner Navjeet K. Bal said Tuesday preliminary
figures show tax collections in December totaled $1.866 billion.

That's $55 million above revised benchmarks set in October, when
Gov. Deval Patrick announced a $1.4 billion budget deficit.

Without the one-time settlement payments, though, collections
would have been $115 million below the revised monthly benchmark
and $149 million below December 2007.

The governor recently announced he expected tax collections to
fall another $1 billion below even his revised projections.

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