Eleven months into the current fiscal year, which ends June 30, it is apparent that consumers are buying less in retail stores and have slowed down their purchase of new cars, but they are still eating out.
Year-to-date revenue collection numbers DOR released this week show that while collections of regular sales tax (retail items) are down $138 million or 5.1 percent from a year ago, and tax collections from the sale of motor vehicles are down $63 million or 13.7 percent from a year ago, meals tax collections of $573 million are just $2 million less than a year ago, down just 0.4 percent.
There has been a lot said about how restaurants have had to revise their menus and pricing to keep customers coming. They are apparently meeting with some success in this tough economy, because the numbers in this case don't lie. The restaurant business appears to be holding up.
To take a look at the complete revenue report for May as well as the year-to-date numbers click here. And feel free to comment with your own observation.
DOR + Social Media — #CheckUsOut posted on Jul 28
State tax administration might not deliver such seismic news events as LeBron’s eagerly-awaited announcement of his return to his old Cleveland team, but knowing what’s going on at any given moment in the tax world could save you some time and effort, and maybe …Continue Reading DOR + Social Media — #CheckUsOut
Commute to work on the T, Commuter Rail or Turnpike? You may be eligible for a Massachusetts Commuter Deduction on your tax return! posted on Jul 16
The Commuter Deduction was enacted by the Legislature to cover specific commuter expenses. To help understand the deduction, the Department of Revenue’s DOR University has released an e-learning module explaining what qualifies for a deduction, real-life examples and how you can claim your commuter deduction …Continue Reading Commute to work on the T, Commuter Rail or Turnpike? You may be eligible for a Massachusetts Commuter Deduction on your tax return!
DOR Offers FREE E-Learning Course on Fraternal Organization Tax Responsibilities posted on Jul 9
Help get the word out! The Department of Revenue’s online DOR University has recently developed a new free e-learning course on the tax responsibilities of fraternal organizations. Fraternal organizations are considered a type of Chapter 180 Corporation, which are formed for charitable or other purposes. …Continue Reading DOR Offers FREE E-Learning Course on Fraternal Organization Tax Responsibilities