MassachusettsRevenue report projects FY27 taxes below state limit
The Department of Revenue estimates that Massachusetts tax revenue will stay below the state limit in fiscal year 2027, excluding the 4% income surtax.
What it does
The Department of Revenue estimates that FY27 tax revenue will be about $5.75 billion below the state limit. The estimate excludes the 4% income surtax and may change as more data comes in.
Argument forA monthly estimate could help lawmakers and the public track whether state tax revenue is nearing the legal limit.
Argument againstChanging revenue estimates could make it harder for budget planners to rely on this projection as the fiscal year continues.
More detail
The Department of Revenue estimates that FY27 tax revenue will remain below the allowable state revenue limit. The estimate covers Massachusetts net state tax revenue for fiscal year 2027, excluding the 4% income surtax. The estimate uses data available when the report was prepared and may be revised as more data becomes available. The estimate excludes revenue from the 4% income surtax, which is not counted under the Chapter 62F limit. The estimate is for the fiscal year ending June 30, 2027.
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Where it stands
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Looking ahead
No hearings or votes scheduled.
History
- 2026
- Oct 1Placed on fileIntroduced
Taxes & BudgetNational SecurityPublic Safety