State Revenues Exceed Benchmarks
The state collected $2.013 billion in taxes last month, up $240 million from the same time period last year and $149 million above the state's benchmark, according to the state's Department of Revenue.
Income taxes were up in June 14.6 percent compared to last year while sales and use taxes were up $92 million, or 27.6 percent. Most of the sales tax jump was credited to an increase in the sales tax, which brought in an extra $79 million, the state estimates. The sales tax increased from 5 percent to 6.25 percent in August 2009.
Corporate and business taxes declined by about $1 million or 0.3 percent compared to last year, but they were still $12 million above the benchmark set by the state.
So far this year the state has collected $18.538 billion in taxes, up 1.5 percent from last year.
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