June 4, 2010
State Tax Revenues Miss Benchmark
By Brandon Butler
May state tax revenue was up 22 percent compared to last year, but was about $70 million below the state Department of Revenue's benchmark for the year because of extended filing dates.
The state collected $1.57 billion dollars last month in tax revenue, which is about $191 million above the benchmark for the month.
Sales tax revenue was about $15 million over the benchmark, which DOR Commissioner Navjeet Bal said is a "good indicator of continued economic recovery."
The state granted extended filing deadlines because of spring flooding. The delay has put the state behind the benchmark for the year.
Year-to-date, the state has collected about $16.5 billion, up $39 million or about 0.2 percent from last year.
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