In 2024, Massachusetts generated $43.1 billion in total tax revenue, including $6.3 billion from corporation net income taxes. This amount is lower than the $6.7 billion collected in the prior year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).
The State Government Tax Collections (STC) survey tracks five major tax categories and up to 25 subcategories, gathering data from all 50 state governments and their dependent agencies.
The Census Bureau notes that it defines tax classifications consistently across states, which may differ from how individual states categorize them…