October 08, 2020
PUBLIC FINANCE > Budget > FY 2021

Economists offer dire projections for state revenues

DOR: Tax take will be down at least $1.2b compared to last year

Shira Schoenberg ,

Commonwealth Magazine

Overall, according to the Massachusetts Taxpayers Foundation, the federal government has given $15.8 billion in federal relief payments to Massachusetts individuals. Some of that money was taxable, like unemployment benefits. Other money, like stimulus checks, is not taxable but stimulate consumer spending, which increases sales tax collections.  That figure does not include another approximately $14 billion Massachusetts businesses got from the Paycheck Protection Program – and businesses pay corporate taxes.