• December 4 2019

Tax Revenue Growth Slows

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Tax revenues will increase by approximately $615 million, or 2.0 percent, to $31.06 billion in fiscal 20211 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.