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Merger, acquisition activity helps lift August tax haul


Merger, acquisition activity helps lift August tax haul

Massachusetts tax collectors brought in $2.788 billion in August, with the Department of Revenue reporting Thursday that receipts grew by 6.4% over collections in August 2024.

The agency said the year-over-year increase was driven by higher income withholding and estate tax receipts, though those gains were partially offset by declines in sales, non-withheld income, and corporate and business taxes. Revenue Commissioner Geoffrey Snyder said mergers and acquisitions boosted withholding taxes.

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