Tax Collections Down Over the Month

The state’s official revenue benchmark envisions an 8.2 percent surge in tax collections during April, but receipts over the first half of the month were down $10 million, or 1.4 percent compared to the same period in 2012, according to the Department of Revenue.

The state’s benchmark calls for total collections this month of $2.714 billion, an increase of $206 million from April 2012.

Through April 15, month-do-date income tax collections were up 0.4 percent from the same period in 2012 and month-to-date withholding collections were down 6.9 percent.  With two and a half months left in fiscal 2013 and amid a slow economic recovery, total state tax collections in fiscal 2013 are up 3.1 percent, or $483 million.

Category: News/Updates