Press Release: 11/5/2025

October Revenue Collections Total $2.927 Billion

 



Monthly collections up $241 million or 9.0% vs. October 2024 actual; $162 million above benchmark



FOR IMMEDIATE RELEASE:



11/05/2025



MEDIA CONTACT



Nathalie Dailida



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Call Nathalie Dailida at (617) 626-2175



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Email Nathalie Dailida at dailidan@dor.state.ma.us



BOSTON, MA — Massachusetts Department of Revenue (DOR) Commissioner Geoffrey Snyder today announced that preliminary revenue collections for October totaled $2.927 billion, $241 million or 9.0% more than actual collections in October 2024, and $162 million 5.9% above benchmark.[1]



FY2026 year-to-date collections totaled approximately $13.010 billion, which is $550 million or 4.4% more than actual collections in the same period of FY2025, and $99 million or 0.8% above the year-to-date benchmark.



“October revenue included increases relative to October 2024 collections in withholding, non-withheld income tax, sales and use tax, and ‘all other’ tax”, said Commissioner Snyder. The increase in withholding is due, in part, to mergers and acquisitions activity. The increase in non-withholding income tax, in large part, is driven by a favorable decrease in refunds and an increase in estimated payments. The increase in ‘all other’ tax is partly due to an increase in estate tax, a category that tends to fluctuate. Corporate and business tax was virtually flat with October 2024 collections, due to a decrease in estimated payments, offset by a favorable decrease in refunds and an increase in return payments.”



In general, October is among the lower months for revenue collection, because neither individual nor business taxpayers make significant estimated payments during the month. 

 



Historically, roughly 6.5% of annual revenue, on average, has been received during October.



Given the brief period covered in the report, October results should not be used as a predictor for the rest of the fiscal year.



Details:




  • Income tax collections for October totaled $1.773 billion, $109 million or 6.6% above benchmark, and $178 million or 11.2% more than October 2024.

  • Withholding tax collections for October totaled $1.530 billion, $53 million or 3.6% above benchmark, and $117 million or 8.3% more than October 2024.

  • Income tax estimated payments for October totaled $108 million, $20 million or 22.1% above benchmark, and $22 million or 26.2% more than October 2024.

  • Income tax returns and bills for October totaled $282 million, $13 million or 4.3% below benchmark, but $9 million or 3.3% more than October 2024.

  • Income tax cash refunds for October totaled $148 million in outflows, $49 million or 24.8% below benchmark, and $30 million or 16.8% less than October 2024.

  • Sales and use tax collections for October totaled $835 million, $10 million or 1.2% above benchmark, and $18 million or 2.2% more than October 2024.

  • Corporate and business tax collections for October totaled $68 million, $1 million or 1.0% below benchmark, but $0.2 million or 0.2% more than October 2024.

  • “All other” tax collections for October totaled $252 million, $44 million or 21.2% above benchmark, and $44 million or 21.3% more than October 2024.



October 2025 Tax Collections Summary (in $ millions) Preliminary as of November 5, 2025 (PDF)



Footnotes



[1]



FY2026 monthly revenue benchmarks are posted on the DOR website.