December 04, 2019
PUBLIC FINANCE > Budget > FY 2021

Tax Revenue Growth Slows After Two Massive Years

MTF's 2021 Revenue Forecast

Tax revenues will increase by approximately $615 million, or 2.0 percent, to $31.06 billion in fiscal 2021 according to a new forecast released today by the Massachusetts Taxpayers Foundation at the state’s annual consensus revenue hearing. The Foundation estimates capital gains tax revenues of $1.64 billion. This figure is $331 million above the estimated capital gains tax threshold for 2021, but a $240 million or 15 percent decline from FY 2020 estimates.