December 3, 2010
State Tax Revenues Exceed Expectations
By Brandon Butler
The state collected $1.43 billion in taxes last month, up almost 11 percent from last year, according to the state Department of Revenue.
November is usually a weak month for tax collections because no quarterly payments are due. But last month there were fewer refunds, stronger sales tax collections and several one-time settlements. Sales tax collections rose 5 percent to $401 million. Corporate and business tax collections totaled $89 million and are up 34 percent compared to the same time last year.
Year-to-date, overall tax collections are at $7.5 billion, more than a half-billion dollars above the benchmark.
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