March Revenue Collections $4.355B, Up $164M vs 2025

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- Massachusetts Department of Revenue

Press Release

March Revenue Collections Total $4.355 Billion

Monthly collections up $164 million or 3.9% vs. March 2025 actual; $64 million above benchmark

For immediate release: 4/03/2026
- Massachusetts Department of Revenue

Boston, MA — Massachusetts Department of Revenue (DOR) Commissioner Geoffrey Snyder today announced that preliminary revenue collections for March totaled $4.355 billion, $164 million or 3.9% more than actual collections in March 2025, and $64 million or 1.5% above benchmark [1].

FY2026 year-to-date collections totaled approximately $30.660 billion, which is $980 million or 3.3% more than actual collections in the same period of FY2025, and $653 million or 2.2% above the year-to-date benchmark.

“March 2026 revenue included increases relative to March 2025 collections in withholding, non-withholding income tax, and sales tax,” said Commissioner Snyder. “These increases were partially offset by decreases in corporate and business tax and ‘all other tax’. The increase in withholding was driven, in part, by an increase in collections from firms in the finance and insurance industry. The increase in non-withholding income tax is driven mostly by income estimated and return payments, partially offset by an unfavorable increase in refunds. The increase in sales tax is due, in part, to typical timing factors in tax collections. The decrease in corporate and business tax is due to a decrease in estimated payments and an unfavorable increase in refunds, partially offset by an increase in return payments.  The decrease in ‘all other tax’ is due to decreases in estate tax, rooms tax and division of insurance payments.”

Historically, March is a mid-size month for revenue collections, ranking sixth of the 12 months in six of the last 10 years. Many corporate and business taxpayers are required to make estimated payments during the month. The tax filing season is underway, and March is typically a significant month for refund payments (outflows), which reduce total net revenue.

Details:

• Income tax collections for March totaled $2.242 billion, $146 million or 7.0% above benchmark, and $187 million or 9.1% more than March 2025.
• Withholding tax collections for March totaled $2.110 billion, $48 million or 2.3% above benchmark, and $121 million or 6.1% more than March 2025.
• Income tax estimated payments for March totaled $129 million, $21 million or 19.5% above monthly benchmark, and $23 million or 21.7% more than March 2025.
• Income tax returns and bills for March totaled $704 million, $147 million or 26.4% above benchmark, and $141 million or 25.1% more than March 2025.
• Income tax cash refunds for March totaled $701 million in outflows, $70 million or 11.1% above benchmark, and $99 million or 16.5% more than March 2025.
• Sales and use tax collections for March totaled $712 million, $30 million or 4.5% above benchmark, and $42 million or 6.2% more than March 2025.
• Corporate and business tax collections for Marchtotaled $1.219 billion, $103 million or 7.8% below benchmark, and $47 million or 3.7% less than March 2025.
• “All other” tax collections for March totaled $183 million, $10 million or 5.1% below benchmark, and $17 million or 8.6% less than March 2025. March 2026 Tax Collections Summary (in $ millions) Preliminary as of April 3, 2026 (XLSX)

Footnotes

[1]

FY2026 monthly revenue benchmarks are posted on the DOR website.

Media Contact

Nathalie Dailida

+

Phone

(617) 626-2175

Online

dailidan@dor.state.ma.us

Massachusetts Department of Revenue

Our mission is to gain full compliance with the tax, child support, and municipal finance laws of the Commonwealth.

Media Contact

Nathalie Dailida

Phone

(617) 626-2175

Online

dailidan@dor.state.ma.us

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