May 6, 2010
Tax Collections Down With Deadline Extension
State revenue collections for April were down 1.8 percent from last year, according to preliminary state numbers, but much of the decline may be due to the extension of the filing deadline.
Collections for the month totaled $1.748 billion, down $31 million from last year and $252 million below the monthly benchmark. Revenue Commissioner Navjeet K. Bal said income tax payments were artificially reduced by the extension of the filing deadline from April 15 to May 11 due to flooding.
Sales tax collections hit $414 million, up 33.9 percent from last year, largely due to the elimination of the sales tax exemption for alcoholic beverages.
WBJ Web Partners
Most Recent
Most Recent
0 Comments