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Wednesday, April 16, 2025

Massachusetts' combined tax revenues down 25.2% from Q2 to Q3 2024

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Geoffrey E. Snyder Commissioner of Revenue at Massachusetts Department of Revenue | Massachusetts Department of Revenue

Geoffrey E. Snyder Commissioner of Revenue at Massachusetts Department of Revenue | Massachusetts Department of Revenue

Combined tax revenues in Massachusetts decreased 25.2% in the third quarter of 2024 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Massachusetts collected $10.4 billion in taxes during the third quarter of 2024, compared to $13.9 billion in the previous quarter.

The majority of the state’s tax revenue was collected through income taxes ($6.6 billion) and general sales and gross receipts taxes ($3.2 billion).

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q3 Massachusetts Tax Collections
Type of TaxAmount (millions)
Income Taxes$6,568
Sales and Gross Receipts Taxes$3,231
License Taxes$347
Other Taxes$211
Source: U.S. Census Bureau

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