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April 2, 2010

Tax Collections Just Miss Benchmark

State tax revenue collections of $1.6 billion in March were up 1.3 percent from last year but were still $9 million short of the state Department of Revenue benchmark for the year.

Income tax returns were higher than expected, but corporate and business tax collections were down 13.4 percent from last year.

Year-to-date tax collections for the state of $13.4 billion are down $222 million, or 1.7 percent from last year.

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