May 19, 2011
State Revenues Down For First Half Of May
The state's tax collections for the first half of May were down 7.4 percent from last year, according to the Department of Revenue, which attributed the decline to timing issues.
Tax collections from May 1 through May 16 were $769 million, down $61 million from the same period in 2010.
Income tax collections fell 18.5 percent to $547 million. Last year, the filing deadline was delayed because of flooding, making it impossible to make meaningful month-to-date comparisons, DOR said.
The department said timing and processing differences may have shifted some payments from May to April this year, so looking at the two months in combination will be the most meaningful way of drawing comparisons.
WBJ Web Partners
Most Recent
Most Recent
0 Comments