Commonwealth Releases July Revenues  

The Independent Fiscal Office and state Department of Revenue have released July 2022 revenue reports and fiscal year-end totals. The state collected $2.7 billion in July, the first month of the new fiscal year, $4 million below prior year collections. Personal income tax revenues were up 1.4% over the prior year and sales tax increased by 1.7% over the prior year based largely on inflationary prices. Estimates for 2022-2023 are not complete and therefore are not included.  

The Motor License Fund received $240.9 million in July. The fund includes liquid fuels taxes and other license, fine, and fee revenues.  

Click here for the Independent Fiscal Office report. View the state Department of Revenue press release here.