December Revenues Exceed Benchmarks
December tax revenues for the state rose almost 10 percent compared to what was collected in 2009, the state Department of Revenue announced.
Tax collections last month totaled $2.072 billion, up 9.8 percent from December 2009. Year-to-date collections are up 10 percent from last year to $9.6 billion.
State Revenue Commissioner Navjeet Bal said tax collections coming in above expected levels is a sign of an "economic recovery that continues to grow."
Sales taxes were up 7 percent in December to $402 million and year to date they're up 11.7 percent.
Corporate and business taxes are 24 percent off of last year's pace, but that is in part because of a $120-million one-time payment from a case settlement in December 2009. Year to date, corporate and business taxes are up 6.6 percent.
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