Tax Collections Down Over the Month

tax_collectionsThe 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